ACCESS Pool has invested £20 million ($24.8 million) to L&G Affordable Housing Fund, a vehicle of Legal & General Investment Management (LGIM). It has also appointed Legal & General to manage its affordable housing investment strategy, according to ACCESS news release.
L&G Affordable Housing Fund is a closed-end fund that will invest in affordable rent and shared ownership homes. This fund will align with L&G’s commitment to achieve net zero carbon by 2050.
Ben Denton, CEO of L&G Affordable Homes, said in a statement, “We are uniquely placed to tackle the current housing crisis and deliver more affordable homes given our expertise across fund management all the way through to the development and operations of assets. Having created assets for our own annuity division, we are delighted that ACCESS have chosen us as their partner supporting our belief that institutional investment can play a role in directly benefitting people. It is a real g
