SINGAPORE (June 16): SLB Development, the property development subsidiary of construction firm Lian Beng Group, has exercised its option to subscribe to a 20% equity stake for £90,000 (S$157,322) in Pinnacle Investment Management Limited, a fund management subsidiary of UK-based Pinnacle Investments Limited and Pinnacle Group Limited.

The fund aims to build a series of funds focused on the private rented sector (PRS) across the UK.

SLB Development made its first investment into the Pinnacle Residential Fund, which is managed by Pinnacle Investment Management Limited in October 2019.

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