Legal & General commits €2b to UK housing & infrastructure

Legal & General (L&G) has pledged to invest £2 bn (€2.34 bn) by 2030 in the UK for housing, infrastructure, and urban regeneration, aligning with the government's goal to stimulate economic growth.

Housing - L&G

L&G expects this funding to create about 24,000 jobs and provide approximately 10,000 new social and affordable homes, fulfilling their goal of both financial returns and societal benefits. L&G will use funds from its own balance sheet and co-investments from other pension clients.
L&G is also joining Sterling 20, a new group of major British pension providers collaborating with the government to direct long-term capital into UK infrastructure. The investments will support government objectives by funding productive assets like infrastructure, affordable housing, and urban regeneration.
Building on L&G's history of public sector partnerships, this program will help local authorities achieve their goals for economic growth and address local needs, such as affordable housing, knowledge hubs, infrastructure upgrades, home retrofitting, and regeneration. Funds will be distributed based on local demand, ensuring each project delivers both financial gains and positive social impact.
This £2 bn (€2.34 bn) commitment supports the UK government's regional growth ambitions by combining pension fund investments with public funding for large-scale housing and infrastructure projects. It also reflects L&G's role as a signatory to the Mansion House Accord, showing how pension capital can be directed into UK investments for long-term economic growth. By linking long-term investment with national priorities, L&G aims to foster regional growth while delivering strong returns and measurable social impact, building on its previous investments in cities like Oxford, Glasgow, and Newcastle.
António Simões, Group CEO, 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 bn commitment will help unlock the investment needed in productive assets across the country – creating jobs, strengthening communities, and driving both regional and national growth.”
The Chancellor of the Exchequer, Rachel Reeves, added: “This is about getting Britain building again – bringing our savings, our investors and our regions together to deliver the homes, infrastructure and industries that will drive growth and create good jobs in every corner of the country.”