Legal & General (L&G) has pledged £2bn for impact investment by 2030 to support regional growth and regeneration across the UK.
The funding, which will come from its balance sheet and capital it manages for other pension scheme clients, is set to help create around 24,000 jobs and deliver close to 10,000 new social and affordable homes.
The investment will go into projects such as infrastructure, affordable housing, and urban regeneration.
This is part of the Government’s plan to drive growth in regions including the North, Midlands and South West.
L&G will work with local and combined authorities to help deliver local priorities like affordable housing, upgrading existing homes, and new infrastructure.
Funding will be allocated based on demand and need in each area.
António Simões, group CEO at L&G, said: “As a long-term investor in the UK economy, L&G has a proud history of using pension capital to develop assets that deliver strong financial returns and lasting social impact.
“Our £2 billion commitment will help unlock the investment needed in productive assets across the country – creating jobs, strengthening communities, and driving both regional and national growth.”
