L&G LPI Fund boosts holdings
Legal & General’s Limited Price Inflation (LPI) Fund has expanded its investment portfolio to £1.8 billion after completing a string of deals amidst the coronavirus pandemic, as it commits to long-let, secure income investments.
The fund has invested over £130 million in three significant deals in recent months, delivering over 240,000 sq/ft of new real estate, including one of the largest office lettings of 2020 and a new government hub.
As part of Legal & General’s £1.5 billion investment in government hubs, the LPI Fund has commenced funding of a 90,000 sq/ft office building in Peterborough. The office building will be let on a 25-year lease on completion to the Secretary of State for Communities and Local Government. The scheme supports regional job growth and flexible working practices in the wake of Covid-19.
Derek Gilby, senior fund manager at LGIM Real Assets, said that amid the Covid-19 crisis, secure, long-term income streams, underwritten by strong covenants, had remained robust.
“Against this backdrop, and aligned with LPI’s investment strategy, we have committed to a string of deals, enhancing our portfolio and positioning the fund for a strong start to the year,” he said.
The fund expects to see further growth to the £1.8 billion investment portfolio in the coming months, he added.
More Related Articles...
More Related Articles...
|
|