L&G appoints senior development manager to support expanding regeneration project pipeline
LGIM Real Assets announces that it has appointed Ben Rodgers as Senior Development Manager, as it looks to invest in further regeneration projects, supporting UK growth.
Rodgers joins from U+I Group where he was a Projects Director responsible for commercially led mixed-use development schemes. He was previously an Associate Development Director at Terrace Hill Group. Reporting directly to Gordon Aitchison, Director, Investment and Development, Rodgers will focus on securing development and regeneration projects, particularly for L&G’s Regeneration Investment Organisation (RIO) partnership launched at 10 Downing Street last year.
L&G has committed to co-invest £1.5bn into RIO pipeline projects alongside capital from other institutions and major overseas investors and is working with the government’s inward investment body, UKTI, to attract an additional £15bn of investment into critical regeneration projects that support UK growth. Rodgers will be working closely with RIO to source other notable regeneration deals following the successes of investments last year into MediaCityUK in Salford, Thorpe Park in Leeds and Central Square in Cardiff.
Gordon Aitchison, Director, Investment & Development at LGIM Real Assets, said: “Ben has significant experience in property development and regeneration projects and his appointment demonstrates our continued commitment to investing into the UK’s built environment. With Ben on board, we now have an even stronger team dedicated to investment and development, as we look to expand our portfolio of UK regeneration projects, supporting major growth across the UK.”
For further information, please contact:
PR Manager, LGIM Real Assets
Tel: 020 3124 2823
LGIM Real Assets:
LGIM Real Assets is a division of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor. LGIM manages £717bn in assets on behalf of over 3,100 clients (30 September 2015), providing products and solutions spanning all asset classes. LGIM Real Assets, headed up by Bill Hughes, has an aggregate asset value of £20.4bn (31 December 2015) and is responsible for the division’s direct investment capabilities in property and infrastructure. LGIM Real Assets is made up of three specialist divisions, Legal & General Property (LGP), its property fund management arm, LGIM Infrastructure, its specialist infrastructure lending and investment division, and Commercial Lending Limited (CLL), its commercial lending arm.
LGP is the fourth largest institutional property fund manager in the UK, managing or co-managing 17 separate funds or vehicles including three segregated mandates with an aggregate asset value of £17.8bn (31 December 2015). These funds include:
- Balanced Funds
- Life Fund; Linked Pensions; Linked Life; Managed Fund; Legal & General UK Property Fund; UK Property Income Fund I; UK Property Income Fund II; LPI Income Property Fund and the Hybrid Property Fund
- Specialist Pooled Funds
- The Leisure Fund Limited Partnership; Industrial Property Investment Fund; Arlington Business Parks Partnership; and the English Cities Fund
- Single Asset Vehicles
- Bracknell Regeneration Partnership; Central Saint Giles Partnership.
LGIM Infrastructure has concluded 14 debt investments to date across all key infrastructure sectors and has a total AUM of around £1bn.
CLL has now invested a total of over £1.7bn across 19 deals. Transactions include eight loans to the social housing sector, two loans to the student accommodation sector, two hotel debt deals and two loans to the care home market.