Legal & General’s affordable housing strategy grows to €358m following GMPF investment

Legal & General has secured a further £150 million ($192 million) in commitments for its U.K. affordable housing strategy, following the recent launch of the Legal & General Affordable Housing Fund, bringing total commitments to the strategy to date to £280 million ($358 million). The bulk of this new capital comes from the Local Government Pension Scheme (LGPS) Fund GMPF, which has committed £120 million ($153 million) alongside internal client capital. With acute demand for affordable housing across the United Kingdom, this highlights how the public and private sector can come together to drive meaningful change. 

As 1.3 million households sit on local authority waiting lists in England, L&G’s strategy will invest in well-designed, purpose-built social rent, affordable rent and shared ownership housing in areas