JUNE 18, 2014

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Insurer launches debt separate account with AgFe

by Reg Clodfelter

U.K. insurance giant LV= (formerly Liverpool Victoria) has awarded a £1 billion ($1.7 billion) mandate to AgFe to invest in commercial real estate finance exclusively in the United Kingdom. This marks the first time that the two have invested together.

This is also the first time LV= has invested heavily in commercial real estate, though this foray into the sector was well planned considering the insurance company has been working on the mandate for nearly a year and a half. As part of the mandate, AgFe will generally invest in fixed-rate medium-term (more than five years) commercial loans, though floating-rate options may be considered at some point.

Founded in 2006, London-based AgFe is a specialist in financial assets and the structures that hold them, including commercial real estate, infrastructure and transportation assets. 

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