Responding to the Government’s announcement of £740 million capital investment in the SEND system to create more specialist places in mainstream schools, Cllr Arooj Shah, Chair of the Local Government Association’s Children and Young People Board, said: “To tackle the challenges within the SEND system, any reform must focus on boosting mainstream inclusion, and we are pleased government has set out steps towards this. “However the rising number of Education, Health and Care Plans means councils are under ever increasing financial pressure, and so it is vital today’s announcement is followed up with urgent action to write off councils’ high needs deficits. “Otherwise many councils will face a financial cliff-edge, and be faced with having to cut other services to balance budgets through no fault of their own, or their residents.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Catella APAM, a leading UK investment and asset management specialist and a subsidiary of the Catella Group, has launched its inaugural fund, Catella APAM Strategic Equities I (“the Fund”), to invest in UK listed property companies. The Fund has closed with £102.2 million in commitments from institutional investors, focused on identifying mispricing within the UK listed real estate sector. Simon Cooke, industry veteran and founding shareholder of Catella APAM, and Ben Kennedy, Head of Investment and Research at Catella APAM, will lead the Fund’s investment strategy, supported by Catella APAM’s senior asset and development management teams, which has advised on over £4.5 billion of assets within the UK and Ireland since its inception. Cooke and Kennedy designed the Fund’s strategy to target undervalued UK listed real estate companies, where underlying asset values have been impacted by recent macroeconomic challenges and shifting demand patterns. The Fund is the Group’s first fundamentals focused product investing in the listed markets following the launch of Catella Systematic Property Fund in 2022, a Swedish UCITS fund targeting Nordic listed property companies through a systematic investment approach. Kennedy commented: “The real estate sector has become more operationally intensive and complex, as asset owners begin to acknowledge their role in providing a service to customers rather than just passively holding assets. This is likely to create a more disparate distribution of returns as the gap between winners and losers widens. Our access to actionable, real-time asset data and hands-on expertise gives the Fund a predictive edge in assessing companies’ current and future value trajectory. Adopting a value investment approach in UK listed equities after a period of re-pricing should offer strong risk-adjusted returns to our investors.” Cooke, who has worked closely with equity fund managers throughout his career, particularly at Deutsche Asset Management throughout the 1990s, added: “I believe the listed sector is often undervalued compared to the wider market, as is the strategy, assets, and management teams, particularly following economic downturns. The sector currently trades at a significant discount to NAV, dragged down by recency bias and consolidated by the backward-looking valuation process. This has been a long journey, and I’m proud that we are now launched and mandated to unlock this embedded value.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Clarion Partners Europe, a leading real estate investment fund manager specialising in European logistics and industrial properties, has partnered with NatWest to secure a £200 million Net Asset Value (NAV) Line facility for one of its co-mingled funds. This fund reports under Article 8 of the Sustainable Finance Disclosure Regulation (SFDR), marking the first collaboration between the two organisations. This NAV facility is also a landmark transaction, as it includes green loan provisions aligned with the Loan Market Association’s (LMA) Green Loan Principles. This is the first such agreement between NatWest and Clarion Partners Europe, setting a precedent for green financing in real estate. The funds will support a range of sustainable initiatives, including refinancing existing properties, implementing green capital expenditure (capex) programmes, and acquiring assets that either meet or aim to achieve specific building energy certifications. Florina Capraru, Acquisitions Director at Clarion Partners Europe, commented:“Integrating green loan provisions into the NAV facility is a natural progression in our sustainability and value creation strategy. It aligns with our mission to future-proof our portfolio of mission-critical assets. NatWest has been an outstanding partner, demonstrating a deep understanding of the decarbonisation challenges facing the real estate sector. Their alignment with our sustainability ethos reinforces the idea that sustainability acts as both a risk mitigant and a driver of value.” Dan Kumagai, Head of Asset-Backed Funds Financing at NatWest, added:“This innovative green structure is a significant development for the NAV line product. By supporting Clarion Partners Europe, we hope to encourage other leading investors to take pivotal roles in decarbonisation and broader responsible investment.” Rahel Haque, Climate & ESG Capital Markets Lead for Private Finance at NatWest, shared her thoughts:“We are thrilled to have supported Clarion Partners Europe with their inaugural Green NAV facility. This funding will enable them to acquire additional logistics assets and enhance energy efficiency across their portfolio. We look forward to deepening our partnership as we work together towards decarbonising the built environment.” This collaboration not only strengthens the relationship between NatWest and Clarion Partners Europe but also underscores their shared commitment to sustainability and responsible investment in real estate. Building, Design & Construction Magazine | The Choice of Industry Professionals

UK Export Finance (UKEF), the UK’s export credit agency, has introduced a new guarantee product to help British firms secure international contracts providing engineering, design and technical services. The Early Project Services Guarantee (EPSG) is now available to overseas buyers who choose to use British services firms to scope and design their projects in the planning phase. The guarantee helps overseas buyers of UK services to access private finance by assuring lenders that they will receive payment, making the UK offer more attractive. Once the project services contract is complete, there is potential for the guaranteed loan to be refinanced alongside financing the wider construction project. The prospect of subsequent finance throughout the life-cycle of projects incentivises overseas buyers to select UK services firms for the early-stage work. Carl Williamson, Director of SME and Trade Finance, UK Export Finance, said: “This new export finance support will give international buyers even more incentive to tap into UK design and engineering expertise. Year-on-year growth in service exports shows that the demand is there for this country’s professional and technical services.”  “The development of our Early Project Services Guarantee is a clear signal of UKEF’s commitment to helping the services sector to maintain its competitive edge and international renown.” The EPSG addresses gaps in market provision for financing the preparatory stages of major projects. It also contributes towards UKEF’s objective of helping a broad range of businesses to export, driving growth across all regions of the UK. This announcement has been made alongside International Trade Week, an annual event run by the Department for Business and Trade which includes a series of virtual and in-person events to advise UK businesses on different ways to reach new international markets. Building, Design & Construction Magazine | The Choice of Industry Professionals

Sixth Street, a global investment powerhouse, and Copley Point Capital, a UK-based specialist in industrial property, have announced a joint venture to target high-quality industrial real estate in the United Kingdom. This partnership is set to focus on logistics markets characterised by strong demand and limited supply. The venture has already secured agreements for an initial £180 million in transactions, with plans to further expand through acquisitions of both individual assets and larger portfolios across the UK. A Milestone CollaborationMichael Heal, Founder of Copley Point, highlighted the significance of the venture:“This partnership marks a major expansion of our Block Industrial programme with Sixth Street. Their extensive resources, reputation, and expertise in real estate will enhance our specialised approach and proven ability to add value at the asset level. Over the past five years, my team and I have built a solid foundation, and Sixth Street’s capital flexibility and long-term outlook make them an ideal partner for our growth ambitions.” Capitalising on Sector TrendsGiulio Passanisi, Managing Director and Head of European Real Estate at Sixth Street, shared his enthusiasm for the partnership:“The Copley Point team is highly regarded in the UK market, and we are excited to work together to expand this platform. The UK industrial real estate sector remains constrained in supply, yet it continues to benefit from robust trends such as the rise of e-commerce and the onshoring of supply chains. We aim to leverage our scale and expertise to meet the capital needs of this thriving sector.” A Strong Foundation for GrowthThe venture’s initial transactions were guided by leading advisers, including BCLP, PwC, Jones Hargreaves, and SLR. Sixth Street received legal advice from Ropes & Gray, while CBRE assisted Copley Point in securing the partnership. Gowling served as Copley Point’s legal adviser. With this joint venture, Sixth Street and Copley Point are poised to address the growing demand for mission-critical logistics and industrial properties in the UK, solidifying their presence in this dynamic sector. Building, Design & Construction Magazine | The Choice of Industry Professionals