Legal & General Capital invested £5bn in levelling up in 2022
Legal & General Capital committed £5bn towards levelling up the UK’s towns and cities across 2022 and is on track to generate up to £600m in profit from alternative assets by 2025.
L&G’s alternative assets platform expects returns of 10% to 12% per annum across its key focus areas of housing, SME finance, specialist commercial real estate, digital infrastructure and clean energy.
Despite global economic uncertainty in 2022, L&G Capital backed the delivery of more than 17,000 homes across the affordable housing, suburban build-to-rent, modular housing and traditional build-to-sell sectors, as well as key worker homes through its partnership with the University of Oxford.
Legal & General Capital committed £5bn towards levelling up the UK’s towns and cities across 2022 and is on track to generate up to £600m in profit from alternative assets by 2025.
L&G’s alternative assets platform expects returns of 10% to 12% per annum across its key focus areas of housing, SME finance, specialist commercial real estate, digital infrastructure and clean energy.
Despite global economic uncertainty in 2022, L&G Capital backed the delivery of more than 17,000 homes across the affordable housing, suburban build-to-rent, modular housing and traditional build-to-sell sectors, as well as key worker homes through its partnership with the University of Oxford.
The company invested in 2.7m sq ft of commercial real estate across the UK and the US, and invested in multiple innovative clean energy businesses to support the transition to a low-carbon economy.
L&G formed a partnership with Bruntwood SciTech to deliver Bruntwood’s first Scotland-based scheme, Glasgow Met Tower, and the company also increased investment in digital infrastructure, with L&G Capital’s data centre business, Kao Data, becoming a multi-site platform.
Laura Mason, chief executive of L&G Capital, said: “2022 has been a landmark year for L&G Capital, as we have made major commitments to deliver transformational schemes in all our alternative asset specialisms across both the UK and, for the first time, the US.
“Much of this has come through strategic partnerships with like-minded investors, who are seeking stable, long-term returns, but also looking to drive positive social impact and limit the impacts of climate change.
“With an increasingly uncertain picture over the next 12 months, it is essential that financial institutions continue to invest in the real economy, recycling pensions funds and savings into projects that help to create jobs, housing and vital infrastructure. Despite headwinds, our appetite to continue to invest globally, alongside other institutional partners, remains strong for 2023.”
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