Firm aims to double housing assets under management by 2028
L&G has created a new head of housing role to oversee its residential business covering more than 17,000 homes across a variety of tenures.
Dan Batterton will lead the financial service company鈥檚 housing investment across its asset management business.
The firm currently has more than 拢5bn worth of assets under management but is looking to double that by 2028.
Batterton has more than two decades in the property sector and has been at L&G since 2007, helping launch its build-to-rent platform in 2016.
L&G鈥檚 BTR business has since grown to be worth more than 拢4bn and includes more than 10,000 apartments across the UK.
His team has also been working on expanding its purpose-built student accommodation (PBSA) business.
L&G plans to spend 拢500m in the sector over the next two years, aiming to grow the portfolio to over 拢1 billion and manage around 5,000 beds across the UK.
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Michael Barrie, head of real estate for UK & Europe at L&G, said: 鈥淒an has been instrumental in the development of L&G鈥檚 housing platform, with a track record of scaling investment strategies in nascent segments of the market.鈥�
Batterton added: 鈥淟&G has a long track record of delivery with this sector, and I look forward to leveraging the partnerships and trust we hold within the market to bring fresh client solutions and housing delivery across the UK.鈥�
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