Federated Hermes and L&G have announced that Federated Hermes Property Unit Trust (FHPUT) has merged into the L&G Managed Property Fund (MPF).
A substantial portion of FHPUT unitholders’ holdings will be transferred to the MPF, which will take ownership of FHPUT’s real estate portfolio. All FHPUT unitholders will either have their holdings transferred or receive liquidity, in accordance with the structure of the transaction. Following the completion of the merger, the enlarged MPF is valued at £4.7 billion ($6.4 billion).
The enlarged L&G Managed Property Fund brings together two of the United Kingdom’s longest-established property funds — FHPUT (1967) and MPF (1971) — into a single bolstered platform. The merger will unlock the potential for L&G to deliver greater scale and liquidity, while maintaining long-term performance for all investors.
Investor engagement throughout the process has been significant, with an overwhelming majorit
