Publications

Fundraising - JULY 15, 2024

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Legal & General launches new fund to deliver affordable housing across England

by Released

Legal & General has launched the L&G Affordable Housing Fund, alongside a £125 million ($162 million) commitment from Local Government Pension Scheme (LGPS) ACCESS — a collaboration of Central, Eastern and Southern Shires, composed of 11 LGPS Administering Authorities with assets totaling £40 billion ($52 billion). The vehicle is aiming to deliver a diversified inflation-linked cash flow for investors.

The level of new affordable homes being built (fewer than 55,000 over the last decade) falls short of the National Housing Federation’s recommendations of 145,000 a year until 2031. As 1.2 million households sit on local authority waiting lists in England, the fund will invest in well-designed, purpose-built affordable-rent and shared-ownership housing in areas of acute need and demand across England.

The fund will aim to positively affect hundreds of people's lives, focusing on “Equity and affordability” as

Forgot your username or password?