Earlier this year, Legal & General announced a pledge to invest £4bn into urban regeneration and the construction of new homes in the West Midlands.
Working in partnership with the West Midlands Combined Authority (WMCA), L&G, which manages £1.4tn as the UK’s largest investor, has financed more than £30bn of regeneration projects in UK towns and cities outside London. It has already invested £2bn in the WMCA region, with the £210m Birmingham Health Innovation Campus and housing projects.
“The West Midlands economic plan, resources and skills make it an attractive destination for trade and investment from across the world,” said Sir Nigel Wilson, CEO of L&G at the time of the announcement. “Our role in this is to put UK funds, including pension savings, to work here so UK savers benefit from UK prosperity.”