Strategic Situations IV targets £100m fundraise, secured £55m at first close. : Two UK schemes have backed Newcore Capital Management’s fourth social infrastructure, storage and accommodation fund to raise 55% of its £100m (€113.8m) target. Newcore said the value-add Newcore Strategic Situations IV fund secured equity commitments of £55m from two UK local authority pension funds, including Merseyside Pension Fund, as well as its existing family office client base. The alternative real estate investment manager said a final close is expected to take place in the first quarter of 2019.