Cityscape of central Cardiff featuring the Brains Brewery chimney, Cardiff Interchange, train lines and roads in the foreground under a partly cloudy sky.

Introducing our Place-Based Investment and Growth Initiative

Because growth happens in places

Homes, jobs, transport links and infrastructure drive growth. Local economies, leadership and delivery capacity seed and shape them.

Unfortunately, they're too often held back by place-specific barriers. Recent Local Government Association research found that removing those barriers could unlock £276 billion of untapped UK economic potential.

That’s why we’ve launched our Place-Based Investment and Growth Initiative.

Two years of seeding change

Our Place-Based Investment and Growth Initiative is a two-year programme that brings together institutional investors, government and national agency representatives, and local leaders.

It will connect:

The institutions with the experience, authority and ability to act

The organisations that allocate capital, shape policy and deliver growth locally

Together they’ll identify what needs to change to support place-based investment and growth, then help transform local priorities into projects that can attract the right capital.

Setting specific goals

The initiative aims to understand which opportunities are suitable for which sources of capital, and what needs to change to make more of them deliverable.

It’ll do that by:

Identifying the structural barriers to investing more in local communities and finding solutions to them

Deciding if those solutions are repeatable at scale and understanding who’s best placed to take that evolution on

L&G has practical experience of mobilising long-term capital into affordable housing, infrastructure and regeneration. For example, since 2018 we’ve invested over £1 billion of our own capital in affordable housing, alongside over £750 million raised from third-party investors. That’s supported the delivery of more than 9,000 homes across England.

Britain does not lack ambition, capital or opportunity. What we need now is a better bridge between them – one that turns local priorities into national growth, and long-term savings into long-term value for people, places and the economy.

Our initiative partners include:

Core Cities

HM Treasury

Homes England

Lloyds Banking Group

National Wealth Fund

Nest Pensions

North East Combined Authority

Northern LGPS

Office for Investment

Sheffield City Council

The Crown Estate

Wakefield Council