GLG is a vertically integrated residential investment and management platform, incorporating Gatehouse Investment Management and property management arm Ascend Properties

Gatehouse Financial Group has completed the sale of its subsidiary Gatehouse Living Group (GLG) to global alternative asset manager Apollo Global Management.

GLG is a vertically integrated residential investment and management platform, incorporating Gatehouse Investment Management and property management arm Ascend Properties.

Together, the business provides institutional investors with end-to-end capabilities to originate and manage single-family build-to-rent housing.

Since launching its first fund in 2014, managed on behalf of the Kuwait Investment Authority, Gatehouse has played a pioneering role in the UK’s institutional rental housing market.

GLG has established five single-family residential platforms, successfully exited three, and acquired more than 5,000 homes from major UK housebuilders.

Through Ascend, the group manages more than 10,000 homes nationwide, including almost 4,000 under the Ascend Living brand.

The transaction supports the long-term strategy of Gatehouse Bank, enabling further growth in its retail-focused home finance offering, which has seen strong demand from UK residents, expats and international buyers.

Fahed Boodai, chairman of Gatehouse Financial Group, said: I’m incredibly proud of the critical role Gatehouse has played in establishing and growing the UK institutional rental housing market, creating a holistic platform that strategically supports the sector and accelerates the delivery of much-needed, high-quality housing.

The transaction with Apollo is a testament to Gatehouse’s pioneering position in the market, the strength of the platform and track record we built over the last ten years, he said.

Edward Jones, partner at Apollo, added: Gatehouse Living Group, under Gatehouse Bank’s stewardship, has established itself as a vertically integrated leader in the UK housing sector, supporting the supply of high-quality, professionally managed rental homes.

He added: We look forward to working closely with management to further enhance and expand its operational capabilities and to supporting the platform’s continued success as the UK focuses on bolstering homebuilding across tenures and attracting more investment to the sector.