Global law firm Norton Rose Fulbright has advised on the establishment and offering of L1 Capital UK Residential Property Fund.

L1 Capital is a specialist fund manager established in 2007 and manages money for a range of clients including large superannuation funds, financial planning groups, family offices and high net worth individuals.

Its property investment arm, L1 UK Property Investments, will manage the fund formed to take advantage of long term investment opportunities in the UK residential property market. The manager believes the outlook for UK residential property is compelling, in particular, based on a combination of high rental yields, low borrowing costs and attractive long term housing supply and demand dynamics.

Norton Rose Fulbright Sydney-based corporate partner Fadi Khoury led the deal and commented:

'Sophisticated investors continue to be drawn to residential property investment. I am proud to be associated with this dynamic team, as they deploy their strong investment track record and experience in a Brexit environment in the UK residential property market'.

Executive Director, Joel Arber, commented:

'The design of the fund reflects best practice from a governance perspective, developed by L1 UK Property Investments, in conjunction with Fadi as our strategic legal adviser, leading professional trustee firm Equity Trustees and global administrator, Apex Fund Services. The fund seeks to provide our investors with a high target return based on a diversified portfolio of residential property across the UK'.