L&G ramps up housing and credit with key hire and major projects

Key Takeaways

Sector: Real Estate.
Geography: United Kingdom.

Analysis

Legal & General (L&G) has taken a major step forward in scaling its real assets platform by appointing Dan Batterton as Head of Housing, investing £250 million in cold storage facilities, and launching a key affordable housing project in partnership with Hill Group.

Batterton, who led L&G’s build-to-rent (BTR) strategy for the past decade, will now oversee a unified housing division that spans BTR, later living, modular homes, and affordable housing. His appointment signals L&G’s intensified focus on housing as part of its broader commitment to inclusive capitalism and long-term economic resilience.

In parallel, L&G Capital has made a £250 million private credit investment into Magnavale, a UK-based cold storage specialist, marking one of its largest infrastructure debt deals to date. The funding will support Magnavale’s national expansion strategy to address critical food and pharmaceutical supply-chain needs, while enhancing job creation and resilience in logistics.

Separately, L&G has partnered with Hill Group to deliver 200 affordable homes in Coventry’s £450 million City Centre South regeneration scheme. The acquisition covers 145 social rent units and 55 shared ownership homes. Hill will develop the properties while L&G provides capital and long-term stewardship.

“This is a powerful combination of strategic capital deployment, public-private collaboration, and organisational leadership aimed at tackling the UK’s structural housing and infrastructure challenges,” said Batterton, who officially stepped into the new role this week.

Legal & General manages over £1.3 trillion in assets and continues to scale its direct investments in housing, infrastructure, and sustainability-led real estate projects across the UK.