Hearthstone Investments Limited was sold to Sentinel Real Estate

The parties

Founded in 2009, Hearthstone Investments was a pioneer in the UK affordable private rental housing sector, launching its first residential investment fund in 2012. Hearthstone has raised and deployed capital on behalf of UK Local Government Pension Schemes (LGPS) and other institutional investors, growing its portfolio of affordable rental dwellings to over 1,800 homes across England, Scotland and Wales, representing total AUM of over GBP 400 million.

Sentinel Real Estate Corporation is an independently owned real estate investment management firm established in 1969, headquartered in New York City with corporate offices in Europe, the UK and Australia. Sentinel operates a vertically integrated investment platform spanning acquisitions, asset management and property operations.

The outcome

The acquisition enhances Sentinel’s UK living platform, following its formal entry into the UK market in January 2026, and gives Hearthstone’s funds and institutional investors access to the firm’s global, vertically integrated capabilities spanning acquisitions, asset management and property operations. The Hearthstone team will be integrated into Sentinel’s global business, providing continuity for clients and a long-term owner with deep residential expertise and a long-term investment focus.

Clairfield’s role

Clairfield acted as exclusive financial advisor to the shareholders of Hearthstone Investments. We worked closely with the shareholders and the board from the outset to review their strategic options, prepare the business for a sale process and position Hearthstone’s specialist affordable rental housing platform for an international buyer audience.

The Clairfield team comprised Partner Angus Russell, Director Nick Wall and Executive Liam O’Sullivan.

“The Clairfield team, led by Angus Russell did an outstanding job in managing the transaction process – from initial approaches, developing a shortlist, supporting due diligence all the way to a successful close. Our board, shareholders and I benefitted from their strong technical expertise and long-standing track record, and it was a genuine pleasure working with the team.” – Cedric Bucher, Hearthstone Investments CEO.

Legal advice to the shareholders of Hearthstone Investments was provided by Charles Russell Speechlys, led by Partners Edward Robinson and Richard Norton, with Eversheds advising Sentinel, led by Ankit Chhabra. Financial and tax due diligence was provided by Lubbock Fine, led by Partners Andy Noton and Robert Hoad.