News in brief – 6 October 2023

M&G has invested £62.7m in shared ownership homes with a series of deals to acquire 370 homes.

The deals were made through a trio of partnerships with Chelmer Housing Partnership (CHP), Hyde Group (Hyde), and HSPG-backed Park Properties Housing Association (PPHA). They were completed on behalf of the M&G Shared Ownership Fund, which aims to provide investors with index-linked rental income and house price exposure by acquiring or funding the delivery of modern, sustainably designed, affordable homes. Under the terms of the transactions, M&G will directly fund the development of new homes or buy existing and pipeline stock. CHP, Hyde and PPHA will continue to manage the properties on behalf of M&G.

BlackRock has launched a new climate transition-oriented private debt fund (CPD) within its global private debt platform.

The fund brings together BlackRock’s transition investing capabilities and global private debt platform to provide a single-entry point to a diversified private debt portfolio. It aims to leverage investment capabilities across BlackRock’s global private debt platform to provide exposure to performing middle market companies and assets across a range of defensive sectors via the allocation to direct lending, opportunistic, venture capital and real asset debt. CPD is predominately focused on European and US middle market direct lending where fund investments can help accelerate borrowers' climate transition agenda by providing support and resources.

Legal & General Capital (L&G) has committed up to US$100m to women-led impact investment advisory firm ImpactA Global.

The investment will be directed to debt financing for sustainable infrastructure in emerging markets, with a focus on addressing climate challenges and reducing inequalities. ImpactA focuses on investments into emerging market economies and aim to identify projects in sectors that achieve their impact goals alongside delivering commercially attractive financial returns. It seeks to bridge funding gaps in transformational infrastructure projects in several sectors, primarily renewable energy and sustainable mobility, health, water and sanitation.

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