Legal & General Capital - Capital Markets Event

RNS Number : 0154P

Legal & General Group Plc

14 October 2021

 

Legal & General Capital: Capital Markets Event

Legal & General Capital ("LGC") will host an event for investors and analysts today, Thursday 14 October, starting at 14:00 BST. The event will provide a detailed look into LGC's alternative asset businesses and outline why LGC is well positioned to continue to deliver attractive growth and sustainable returns.

LGC, Legal & General's primary alternative asset manufacturer, has significant investment expertise in four strategically selected sectors: housing; SME finance; specialist commercial real estate; and clean energy. The division has three objectives:

· To generate attractive risk-adjusted returns for our shareholders by investing in and developing high quality alternative assets

· To create associated long-duration alternative assets for Legal & General Retirement's growing global annuity business, and to provide compelling alternative investment opportunities for third party investors

· To make socially and environmentally useful investments that support our longstanding commitment to Inclusive Capitalism and ESG

The agenda for the event will cover the following:  

· Why LGC exists and what it does

· How LGC contributes to L&G's synergistic business model

· LGC's investment capabilities

Key ambitions include:

· Growing LGC's alternative asset portfolio to c£5 billion by 2025

· Generating returns on the alternative asset portfolio of 10-12% by 2025

· Generating £500-600 million of operating profit from alternatives (£600-700 million from LGC in total) by 2025

Laura Mason, CEO of LGC:

"LGC is an important component of the Group's unique and highly synergistic business model. By investing in and developing high quality alternative assets, LGC generates attractive risk-adjusted returns for shareholders, structures attractive long-duration investments for LGR and, increasingly, provides compelling alternative investment opportunities for third party investors. The demand for alternative assets is significant, and we are excited about LGC's growth prospects."

The event will be webcast from 14:00 BST. The link to the webcast will be available here:

https://www.legalandgeneralgroup.com/investors/

 

Notes to editors

Legal & General Capital 

Legal & General Capital (LGC) is Legal & General Group's primary alternative asset business. It seeks to generate attractive risk-adjusted returns for shareholders by investing in and developing high quality alternative assets, to create associated long-duration assets for Legal & General Retirement and to provide compelling investment opportunities for third-party investors.

LGC has built market-leading alternative asset capabilities across four strategically selected sectors: housing; SME finance; specialist commercial real estate; and clean energy. It makes socially and environmentally useful investments that support our longstanding commitment to Inclusive Capitalism and ESG: investing society's capital for society's benefit.

As LGC scales its alternatives business we expect increasingly to attract third party assets and co-investment. There is huge appetite in the market for alternative assets to back long-duration liabilities. LGC is well-placed to address this demand.

Legal & General Group

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with international businesses in the US, Europe, Middle East and Asia. With over £1.3 trillion in total assets under management, we are the UK's largest investment manager for corporate pension schemes and a UK market leader in pension risk transfer, life insurance, workplace pensions and retirement income.

Forward-looking statements

This announcement may contain certain forward-looking statements relating to Legal & General, its plans and its current goals and expectations relating to future financial condition, performance and results. By their nature, forward-looking statements involve uncertainty because they relate to future events and circumstances which are beyond Legal & General's control, including, among others, UK domestic and global economic and business conditions, market-related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory and Governmental authorities, the impact of competition, the timing impact of these events and other uncertainties of future acquisitions or combinations within relevant industries. As a result, Legal & General's actual future condition, performance and results may differ materially from the plans, goals and expectations set out in these forward-looking statements and persons reading this announcement should not place reliance on forward-looking statements. These forward-looking statements are made only as at the date on which such statements are made and Legal & General does not undertake to update forward-looking statements contained in this announcement or any other forward-looking statement it may make.

Further information

Investors

Edward Houghton  Head of Investor Relations  [phone]

Sujee Rajah  Investor Relations Director  [phone]

Nim Ilankovan    Investor Relations Director  [phone]

Media

John Godfrey  Corporate Affairs Director                                               [phone]

Graeme Wilson Tulchan Communications  [phone]

 

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