Press releases
Legal & General further expands BTR platform with new hire
Legal & General announces that it has appointed James Robson as Residential Development Manager, growing its dedicated Build to Rent (BTR) team to eight
23 Oct 2017
Legal & General announces that it has appointed James Robson as Residential Development Manager, growing its dedicated Build to Rent (BTR) team to eight strong in order to support its ambitions to have 6,000 units in planning, development or operation by the end of 2019.
Legal & General’s current pipeline of BTR units is over 1,700 following its latest acquisition in Birmingham, which represents the sixth UK city to which it will bring its new rental offer.
James has a wealth of experience in the BTR and Residential sectors. He joins from CNM Estates where he was a Director responsible for land buying, planning application management, financing and development. Reporting to Dan Batterton, Legal & General’s BTR Fund Manager, James will be responsible for sourcing and managing attractive land and development funding opportunities across the UK’s major cities that are suited to its long-term BTR investment model.
Dan Batterton, BTR Fund Manager at LGIM Real Assets, said: “We have assembled a strong and professionally diverse team, to which James is an excellent addition. Our teams varied backgrounds and expertise has enabled us to be at the forefront of this evolving sector, ensuring that we are well positioned to lead the way in delivering the best BTR products for our residents.”
Legal & General’s current BTR pipeline is over 1,700 homes with the aim to have 6,000 in planning, development or operation by the end of 2019. Legal & General has raised pension fund capital for an open-ended BTR fund as well as a £600m joint venture between Legal & General Capital and PGGM, meaning it already has significant investment firepower. Through the creation of a BTR asset class, it is looking to use its sources of long term capital to help address the chronic long term lack of supply of housing and meet the increasing demand for affordable, quality rental accommodation. Its existing sites in Leeds, Bristol, Bath, Walthamstow and most recently Birmingham are progressing well and its scheme in Salford has been home to residents since June.
Further information
Olivia Bayliss
Head of Communications
Capital and LGIM Real Assets
Notes to editors
LGIMRA is a division of Legal & General Investment Management (LGIM), one of Europe’s largest
institutional asset managers and a major global investor. LGIM manages £1.29 trillion1 ($1.57tn) in
assets, working with a range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
LGIM Real Assets has assets under management of £36 billion2 ($43.8bn) and is one of the largest
private markets investment managers in the UK. Investing in both debt and equity and across the
risk/return spectrum, LGIM Real Assets actively invests in and manages assets across commercial,
operational and residential property sectors, as well as infrastructure, real estate, corporate and
alternative debt.
Taking a long-term view in order to future proof our investments, LGIM Real Assets continues to lead the industry in ESG performance, considering all environmental, social and governance issues at asset level as well as portfolio level.
1LGIM internal data as at 30 June 2022. These figures include assets managed by LGIMA, an SEC Registered Investment Advisor. Data includes derivative positions.
2Source: LGIM Real Assets. AUM data as at 30 June 2022.
*at 13 Jan 2023
IMPORTANT INFORMATION
For professional clients only. Past performance is not a guide to the future. The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested. Views expressed are of LGIM as at 12 January 2023. The Information in this document (a) is for information purposes only and we are not soliciting any action based on it, and (b) is not a recommendation to buy or sell securities or pursue a particular investment strategy; and (c) is not investment, legal, regulatory or tax advice. Legal & General Investment Management Limited. Registered in England and Wales No. 02091894. Registered Office: One Coleman Street, London, EC2R 5AA. Authorised and regulated by the Financial Conduct Authority, No. 119272.
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 management1 of which 40% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
1Data as at 31 December 2023.