PIC joint venture secures £63m funding for retirement scheme

Written by Michael Griffiths

28/01/2025

ICG Real Estate (ICGRE), a division of alternative asset manager, ICG, has provided a £63m loan to a joint venture vehicle linked to PIC.

This joint venture, between Elysian Residences and Senior Living Investment Partners (SLIP), is aiming to fund a new retirement scheme in Henley-on-Thames, Oxfordshire. SLIP is the partnership between PIC and real estate lender and investor, Octopus Real Estate.

The new facility will go towards funding the acquisition and development of a new 100-unit luxury integrated retirement community and follows the recent announcement of capital invested in the same scheme by SLIP and Elysian, marking the first transaction between ICGRE and Octopus Real Estate.

Managing director at ICG Real Estate, Isobel Dench, commented: “We continue to see living as a high-conviction sector, with Henley-on-Thames our first deal in the retirement space.

“The retirement market has compelling demographics supporting it, which is expected to encourage future demand. We see this development as a great opportunity to enter the market alongside experienced sponsorship, in a prime location with strong micro fundamentals.”

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