BGO Strategic Capital Partners Takes Stake in GREYKITE's Uniqhomes UK Single-Family Rental Platform

BGO Strategic Capital Partners has acquired a stake in Uniqhomes, the UK single-family rental (SFR) platform of GREYKITE, through a co-investment that recapitalizes the business, the firms announced Nov. 2. The portfolio is valued at approximately £300 million. GREYKITE retains majority ownership of the platform alongside asset manager Alvesta Investment Management.

Uniqhomes holds more than 1,000 purpose-built rental homes across 26 sites in Yorkshire, the Midlands, the North and the West of England. GREYKITE European Real Estate Fund I (the Fund) entered into the strategic partnership with BGO Strategic Capital Partners, the secondaries investment management business of BGO.

Deal Structure and Parties

BGO Strategic Capital Partners made the co-investment through its secondaries program, which the firm says provides structured solutions to specialist managers in its target markets globally. GREYKITE remains the majority owner of Uniqhomes. Alvesta Investment Management continues as asset manager for the platform.

The approximately £300 million portfolio value implies an average of at least £300,000 per home, an indicative figure rather than a per-unit transaction price.

Uniqhomes Portfolio and Operations

Since the platform's launch in 2024, Uniqhomes has acquired 26 SFR sites across the UK. The firms said the platform's growth was driven by GREYKITE's off-market sourcing and the aggregation of its portfolio, as well as favorable supply and demand fundamentals in the UK housing market. Uniqhomes has achieved a high occupancy rate with strong tenant retention across the portfolio, supported by its operating platform, according to the announcement.

BGO Strategic Capital Partners partnered with GREYKITE on the assembled portfolio, most of which was already delivered at entry. The firm said it was attracted by the portfolio's in-place rental performance and high occupancy.

GREYKITE European Real Estate Fund I is GREYKITE's inaugural discretionary real estate fund. It has $4 billion of assets under management, with investments spanning nine of its envisaged ten thematic strategies. GREYKITE continues to focus on building scalable, thematic real estate platforms across the Living, Industrial and Digital sectors.

Executives Comment on the Recapitalization

Cherine Aboulzelof, Managing Partner and Co-Head of BGO Strategic Capital Partners, said: "Uniqhomes is a scaled, high-quality UK single-family rental platform with strong in-place rental performance and high occupancy, in a structurally undersupplied market. We are delighted to partner with GREYKITE, who have led the sourcing and aggregation of the portfolio, and we look forward to supporting the next phase of the platform's growth together."

Michael Abel, Founder, CEO and CIO of GREYKITE, said: "We are excited to have partnered with BGO SCP to drive the next phase of Uniqhomes' progress. This partnership is consistent with our strategic focus on building market-leading platforms in thematic sectors, and is a reflection of our collective conviction in the opportunity ahead as we continue executing Uniqhomes' growth strategy."

Dan Valenzano, Senior Partner of GREYKITE and Chairman of Uniqhomes, said: "Since inception in 2024, Uniqhomes has grown into one of the UK's largest SFR platforms. The combination of robust demand for professionally managed single-family rental accommodation continues to outstrip new supply, and we look forward to further expanding and enhancing the platform with our partners at BGO SCP and Alvesta."

UK Rental Market Context

The transaction comes amid a persistent shortage of UK rental housing, particularly family-sized homes. Knight Frank reported that UK rental listings were 32% below the 2017-19 average in the first quarter of 2026, with house listings down 35%. Rents for houses have risen 32% over five years, compared with 21% for flats.

CBRE Investment Management said house rental listings were roughly 30% below the 2017-19 average at the end of 2025 and forecast UK rental growth of 4.1% annually over the following five years. Average tenancy length has increased from 3.7 years in 2011 to nearly five years. CBRE also reported average UK build-to-rent occupancy of approximately 97%.

Development economics are reinforcing the supply constraint. BNP Paribas Real Estate cited elevated construction and borrowing costs and development-viability challenges, and reported 5.3 rental enquiries per available home and UK rental growth of 3.8% year over year in September 2026. Aberdeen Investments said RICS data showed landlord instructions at a -28 net balance. CBRE described the medium-term pipeline for new rental housing as "extremely constrained" because of limited funding activity during the prior 18 months, and BNP Paribas said higher mortgage rates and affordability constraints had produced a renewed increase in rental demand.

Family renters tend to seek larger homes, outdoor space and access to schools, and suburban rents can be up to 40% below equivalent city-center rents, according to CBRE.

Outlook and Considerations

BNP Paribas expects rental growth to moderate as affordability limits the pace of future increases. Savills said the introduction of the Renters' Rights Act in May 2026 coincided with stronger rental growth in many English markets, but characterized the acceleration as likely a one-off adjustment rather than a fundamental change in supply and demand. Operating costs, regulatory changes under the act, and financing costs are among the factors that could affect platform performance.

For BGO Strategic Capital Partners, wholly owned by BGO and operated distinctly, the investment is consistent with its focus on direct real estate secondaries, structured secondaries and co-investments with small and mid-cap managers. For GREYKITE, the recapitalization brings an institutional capital partner into Uniqhomes while GREYKITE keeps majority ownership of the platform.

GREYKITE is an independent European real estate investment firm established in 2023 and headquartered in London, with 16 professionals. BGO serves more than 750 institutional clients and, together with Bell Partners Inc., had approximately US$100 billion of assets under management as of June 30, 2026. Sun Life acquired Bell Partners and combined it with BGO on July 2, 2026.

Sources

BGO press release: https://bgo.com/press-release/greykite-secures-co-investment-from-bgo-strategic-capital-partners-for-the-recap-of-uniqhomes-uk-sfr-platform