Press releases

Legal & General Affordable Homes bolster team with managing director for stock acquisitions

Catherine Raynsford will lead on acquisitions of existing homes, sustainable retrofitting of acquired stock and the development of large-scale partnerships.

19 Nov 2024


Full press release

Catherine Raynsford will lead on acquisitions of existing homes, sustainable retrofitting of acquired stock and the development of large-scale partnerships

Legal & General Affordable Homes (LGAH) has hired Catherine Raynsford as Managing Director, Stock Acquisitions. Catherine will lead the growth of the business in purchasing existing occupied affordable homes, the sustainable retrofitting of acquired stock, and the development of large-scale partnerships with registered providers of affordable housing.  

The appointment supports LGAH’s strategic focus on building long-term partnerships with housing providers where there is scope to undertake repeat transactions at scale, enabling the delivery and preservation of more affordable housing in local communities. The acquisition and retrofitting of existing housing stock is a central component of this strategy, bringing forward future-proofed, affordable homes while allowing partner providers to reinvest capital into more housing in areas of acute need.  

The appointment follows the launch of the L&G Affordable Housing Fund in July, aimed at increasing much-needed housing supply in England while delivering diversified inflation-linked cash flow for investors. Established in 2018 as Legal & General’s own developer and operator of affordable housing, LGAH has invested £1bn to date and built a portfolio of 8,000 homes, with 5,000 in operation and 3,000 in development.

Catherine brings a wealth of knowledge and over 20 years sector experience. She was most recently a Director at The Hyde Group, where she led the establishment of their investment function and spearheaded their delivery of affordable housing in partnerships with institutional capital. Her prior experience also includes a senior client-facing role at JLL and development positions at housing associations.

Ben Denton, CEO, Legal & General Affordable Homes: “I am delighted to welcome Catherine to the team as we build out our strategy of forging impactful partnerships that allow us to deliver much-needed affordable housing at scale. Her experience will be an asset to us as we continue to expand on our acquisition and retrofitting capabilities to achieve our long-term ambitions in helping to solve the housing crisis faced by communities across the UK.”
Catherine Raynsford, Managing Director, Stock Acquisitions, Legal & General Affordable Homes: “I am pleased to have joined LGAH at a pivotal point for the business and look forward to helping deliver its next phase of growth through the acquisition of large tenanted portfolios and partnerships with the sector while placing sustainability at the heart of our approach.”

Further information

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Sami Dodangeh

Communications Manager

Asset Management

Notes to editors

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at HY24) of which c.40% (c.£0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

As at 3 December 2024, Legal & General has a market capitalisation of £13.1 billion.

L&G’s Asset Management division is one of Europe’s largest and a major global investor across public and private markets, with £1.2 trillion in assets under management1.  

The division combines deep expertise in asset management and origination with global distribution capabilities to deliver positive outcomes for our clients, which include individual savers, pension scheme members and global institutions, investing alongside L&G’s own balance sheet. As a global investor, we are present where our clients need us – from Hong Kong and Singapore, to major European financial hubs, to Chicago – operating under the Legal & General and LGIM brands. 

We provide investment solutions across the full spectrum of asset classes, ranging from index-tracking and active funds to liquidity and liability-based risk management strategies. Through our private markets platform, we utilise our rich heritage and extensive network of partners to offer access to a wide range of purposeful alternative investment opportunities, including specialist real estate, clean energy, infrastructure, venture capital, unlisted equities and private credit. 

Our division is underpinned by our enduring commitment to responsible investment, dedicated to creating long-term, sustainable value for our clients and partners.

1Data as at 31 December 2023.