Press releases

Legal & General appoints Jasan Fitzpatrick as Managing Director of Principle Investment, as it continues to expand it's alternative asset capabilities

Legal & General Capital (LGC) announces that Jasan Fitzpatrick has been appointed Managing Director of Principal Investment, responsible for its investments in Venture Capital and SME finance; Build to Rent and Affordable Housing.

5 Mar 2020

Link to full press release

Legal & General’s principal investment strategy will continue to evolve under Jasan’s leadership, exploring innovative ways to deploy capital and enhance returns across alternative asset capabilities. A key area of focus for the business will be pioneering access to the Venture Capital asset class for Defined Contribution customers, whilst creating an asset portfolio which complements LGIM’s investment strategy and supports the growth of Legal & General’s retirement arm.

In European SME financing, LGC’s 40%-owned private credit manager Pemberton has accelerated the deployment of capital across all funds, with more than €3bn deployed across 30 deals in 2019 and total Funds Under Management growing to c. €6.1bn. In Venture Capital investing, LGC has continued to build a robust portfolio of high quality European Venture Capital managers where it has c. £140m deployed across 14 funds.

In Build to Rent, LGC works closely with LGIM who have raised significant pension fund capital for an open-ended BTR fund, creating a pipeline of attractive, high quality assets for its customers, and offering flexibility and security of tenure to renters. It now has over 5,000 homes completed, in planning or under development, across fourteen BTR schemes. In affordable housing, LGC has a secured pipeline of 3,500 homes across the UK.

Jasan has been employed by LGC since July 2018, when he joined from CALA Group. With over 20 years’ experience across the property and investment sectors, Jasan was General Counsel and Company Secretary at Premium Credit Limited, a finance business owned by the private equity house Cinven, and General Counsel and Company Secretary at Northern Rock, prior to his role at CALA Group.

Jasan Fitzpatrick: "The VC ecosystem is growing strongly in the UK. Forming an increasingly important part of the UK economy, start-ups and scale-ups continue to transform entire industries, generating strong returns and revolutionising the way we live, work and play. Legal & General has committed capital to continue to support these businesses through existing Venture Capital managers. We also continue to see compelling opportunities to invest in the Build to Rent and Affordable Housing sectors.

As Managing Director of Principal Investment, I want to innovate to unlock our pool of capital further, strengthening Legal & General’s position across VC, SME Finance and the Build to Rent and Affordable Housing sectors, through the deployment of inclusive capital."

Further information


Lauren Kemp

Group Head of Corporate Media & Issues

Group Communications

T: 07946 514 627

Email Lauren Kemp

Notes to editors

Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at FY23) of which c40% (circa £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 7 June 2024, we estimate the Group’s Solvency II coverage ratio to be 224%.

As at 11 June 2024, Legal & General has a market capitalisation of £14.6 billion.

Legal & General Capital (LGC) is Legal & General Group’s alternative asset platform, creating assets for Legal & General Retirement and third-party clients in order to achieve improved risk-adjusted returns for our shareholders. LGC has built its capabilities in a range of alternative sectors, including in residential property; specialist commercial real estate; clean energy; alternative credit; and venture capital, which are all supported by long-term structural growth drivers, meet a financing gap, and respond to a scarcity of supply that is underpinned by enduring societal needs.