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’s housing investment across its asset management business.
The firm currently has more than £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’s BTR business has since grown to be worth more than £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 £500m in the sector over the next two years, aiming to grow the portfolio to over £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: “Dan has been instrumental in the development of L&G’s housing platform, with a track record of scaling investment strategies in nascent segments of the market.”
Batterton added: “L&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.”
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