Yoo Capital announces closing of Yoo Capital Fund II
Yoo Capital Investment Management (Yoo Capital), the real estate investment firm formed by Yoo Capital Management and Astarte Capital Partners, is pleased to announce the final close of its second fund, Yoo Capital Fund II (YCFII).
The first in a series of funds launched by a partnership between Astarte Capital Partners and Yoo Capital, a global institutional investor specialising in identifying and building best-in- class asset management businesses in the real assets space, it is one of only three UK real estate funds successfully raised and closed since 2020 and one of only 13 first-time opportunistic funds to have raised and closed globally between 2021-2023, compared to a yearly average of approximately 90 closes pre-pandemic. The firm also announced YCFII the majority of the capital was successfully committed during Covid in a series off-market investments with a gross value in excess of £1 billion of Central London real estate.
Yoo Capital has made its name in visionary community building and responsible transformation with a focus on mixed-use opportunities, most recently in creative industries and life sciences. Earlier this year the firm acquired a site in Kentish Town, London, and shared its vision for a Camden Film Quarter. In collaboration with the London Borough of Camden, and subject to consultation, the site would create a new neighbourhood comprised of film and television studios, production spaces, as well as 50% affordable housing, public space and infrastructure to serve the local community.
Yoo Capital is also responsible for the visionary transformation of Olympia, a £1.3bn investment to reinvigorate the iconic 137-year old exhibition halls into London’s newest cultural hub which includes the rejuvenation of the iconic exhibition halls, a 4,400 capacity live music venue with AEG; the UK’s largest new theatre in 40 years managed by the renowned Sir Howard Panter’s Trafalgar Entertainment; a creative arts school, in partnership with Wetherby and The BRIT School, a Hyatt Regency and Citizen M Hotel, 20+ restaurants and bars, 550,000 sq ft of creative offices and studios, and 2.5 acres of gardens and public realm.
Yoo Capital has invested over £2.5 billion into central London since it was founded in 2010 by international property entrepreneur John Hitchcox and real estate veteran Lloyd Lee. The firm is committed to creating new spaces for London that support the arts, creative, hospitality and science-led industries and are sustainably minded to evolve and stand the test of time.
Lloyd Lee, Managing Partner at Yoo Capital, said:
"Today marks a significant milestone in our journey as we celebrate the successful close of YCFII. It is testament to the hard work and dedication of our team, the strength of our vision, and the belief of our investors in our ability to identify attractive investments that generate sustainable, long-term returns. The fact that the fund was also fully committed with the announcement of Camden Film Quarter is confirmation of that belief.”
Dr. Stavros Siokos, Managing Partner at Astarte Capital Partners, commented:
“We are pleased to confirm the final close of YCFII following strong support from our global investor base. It reflects the strength of our long-term partnership with Yoo Capital, our compelling strategic vision, and resilience of the sector."
“Our partnership brings together deep sector expertise in investing across multiple economic cycles with experienced investment managers, and we look forward to deploying the capital from YCFII in long-term real estate investments that create value for all stakeholders.”
John Hitchcox, Chairman, Yoo Capital, said:
“Our approach to investment is guided by a deep commitment to community building and the responsible transformation of mixed-use developments. With YCFII, we will be creating places that are more than buildings, but actually build a sense of inclusive community for industry, for living and raising families and for creating opportunities for Londoners. Our recent announcement of our vision for Camden Film Quarter is a powerful example of this.”
About Yoo Capital Investment Management
Yoo Capital Investment Management is a privately held real estate partnership between Yoo Capital and Astarte Capital Partners. Yoo Capital Fund II is the partnership’s first in a series of special opportunities UK real estate funds with a particular focus on London. Historically, Yoo Capital has invested over £2.5 billion into Central London since its formation in 2010 by international property entrepreneur John Hitchcox and private equity veteran Lloyd Lee. By combining transformational creativity with institutional-quality investment discipline, the firm specialises in transformational investments that deliver both high social value and financially sustainability. In addition to the traditional asset classes of office, residential and retail, the firm has made its name through its significant experience in hospitality/creative industries and is also actively investing into life sciences/healthcare. The firm is comprised of extremely senior professionals with a firmwide average 21 years’ experience in private equity, complex asset and development management and institutional fund management that comprises in excess of £11bn of transactional experience.