L&G’s residential investments reached $5 billion in 2022

UK: Legal & General Capital helped fund more than 17,000 new homes across a range of tenures last year.

UK: Legal & General Capital helped fund more than 17,000 new homes across a range of tenures last year.

Its investments ranged across affordable housing, BTR (traditional and suburban), modular housing, open market sale, and key worker homes.

Many of its schemes involved joint venture models such as a 3,000-home partnership with Lovell and a 2,500-home partnership with Metropolitan Thames Valley Homes.

Laura Mason, CEO of of Legal & General Capital says it is on track to generate up to £600 million in profit from alternative assets by 2025 and that its strategic partnerships have been with like-minded investors, who want stable, long-term returns, but are 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’s 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,” she said.

Last year, the group pledged to build 10,000 houses a year along with 5,200 build-to-rent homes to tackle the UK’s housing shortage.

L&G has 17 BTR schemes planned or in operation, delivering 5,000 homes and will also build 5,100 later living homes in a joint venture with NatWest Group Pension Fund.

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A wonderful balance of informative but informal property tours, coupled with an engaging conference agenda on the second day. Greatly worthwhile

Sam Barrell, Director of Real Estate Development, Sonder

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