Legal & General Investment Management (LGIM) Real Assets has invested £100m in affordable housing using annuity money.

On behalf of its clients, including L&G Retirement Institutional, LGIM Real Assets provided £100m in deferred long-term financing to Bromford Housing Group. It will be drawn in 12 months’ time and support Bromford’s initiative to deliver 12,000 new affordable homes in Central and South West England by 2028. NatWest Markets acted as sole agent in Bromford’s private placement issuance, with Newbridge providing treasury advice. Legal advice was provided by Trowers & Hamlins and Addleshaw Goddard.

XPS Pensions has launched a tool that models pension scheme members’ vulnerability amid the Covid-19 pandemic.

Its Scheme Vulnerability Analysis tool allows pensions schemes to assess the potential impact of Covid-19 on their members’ life expectancy. It considers members’ vulnerability in terms of life expectancy, but also in terms of susceptibility to the increased risk of scams associated with the pandemic. The tool is an expansion on XPS’s Member Profiling Service.

Pension Insurance Corporation (PIC) has invested £75m in debt issued by Trident Housing Association.

The funds will be used to refinance existing long-term debt, allowing Trident to plan further growth and develop more social housing stock. To date, PIC has invested over £2bn in the UK’s social housing sector. The transaction was arranged by Savills Financial Consultants. Trident is a housing association based in the Midlands.

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