L&G invests £750m in UK infrastructure

Legal & General has invested £750m in UK Infrastructure and direct lending in Q1 2016, with the completion this week of £250m of financing for a commercial infrastructure deal.

This adds to £70m in a student accommodation infrastructure deal earlier this month and £245m for Transport for London’s (TFL) new premises in Stratford’s new international Quarter in

The investments aim to provide secure long-term fixed and inflation-linked cashflows to back annuity payments to UK pensioners.

Kerrigan Procter, Managing Director of Legal & General Retirement, said: “We have a strong pipeline of UK infrastructure and UK direct lending transactions as demonstrated with our completion of £750m of investment so far this year, which we use to back pension payments to UK pensioners in our £44bn annuity portfolio.

“We see huge potential for growth as UK pension funds transfer their assets and liabilities to us and we in turn invest in real UK assets. ”

Eleanor Nasar, Chief Investment Officer of Legal & General Retirement said: “The deals this week combined with the £245m TFL deal and other direct lending, including our lifetime mortgage business, mean we’ve secured £750m of direct investment across a range of UK sectors year to date.”

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