Legal & General Capital (LGC) announces the appointment of David Reid as Senior Investment Manager, supporting its ambitions to continue to expand its Build To Rent (BTR) investment activities. David will be responsible for managing LGC’s existing rental housing investments and providing leadership and innovation to new investment opportunities.
9 Mar 2020
Since 2016, LGC has invested through a joint venture with PGGM in Legal & General Investment Management’s market-leading BTR platform. Alongside the joint venture, LGIM has 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.
David Reid: "I am excited to be joining the Legal & General Capital team and believe the business has huge potential to innovate and grow further within the BTR sector. I look forward to helping to generate the strategies to best deliver on the opportunities ahead."
Notes to editors
Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with international businesses in the US, Europe, Middle East and Asia. With almost £1.3 trillion in total assets under management*, we are the UK’s largest investment manager for corporate pension schemes and a UK market leader in pension risk transfer, alternative asset origination, life insurance, workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone.
* at 30 June 2021
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.
Its purpose is to invest society’s capital for society’s benefit. Investing in the real economy and supporting the Group’s focus on climate and inclusive capitalism, LGC’s investments create jobs, change lives and contribute towards a net zero carbon future.
Legal & General has invested over £29bn in levelling-up regional economies, including through major UK-wide regeneration schemes and has recently made a commitment to enable all its new homes to operate at net zero carbon emissions from 2030.
(As of June 2021)