L&G has completed the £250 million ($340 million) private debt investment with Magnavale over a 10-year period. The debt facility totals £500 million ($679 million), co-arranged by L&G and a U.S. institutional investor. L&G invested on behalf of a number of internal and external client mandates, in a transaction that marks an expansion of the firm’s real estate debt portfolio into new logistics sectors.
Magnavale is a U.K.-based provider of temperature-controlled storage and value-added services for the food industry operating from four strategically located cold storage facilities, providing a critical storage solution to ensure supply of food can cope with seasonal demand and unpredictable supply shocks.
With structural trends such as unpredictable climate cycles, population growth and geopolitical instability, cold chain storage can minimize the disruption to supply chains and greatly contribute to food security in the U.K. economy. Robust end-to-end
