Legal & General Capital committed £5bn of alternative asset investments in 2022, including in the clean energy sector.
The £5bn included investments in UK solar power infrastructure assets and cornerstone capital for two completed fund raises by sustainable infrastructure manager NTR.
Legal & General Capital’s commitments in 2022 mean it is on track to deliver against its stated ambitions to generate up to £600m in profit from alternative assets by 2025, with returns of around 10% to 12% per annum, across its key focus areas of housing, SME finance, specialist commercial real estate, digital infrastructure and clean energy.
Laura Mason, CEO of Legal & General Capital said: “2022 has been a landmark year for Legal & General Capital as we have made major commitments to deliver transformational schemes in all our alternative asset specialisms across both the UK and, for the first time, the USA.
“Much of this has come through strategic partnerships with like-minded investors, who are seeking stable, long-term returns, but also looking to drive positive social impact and limit the impacts of climate change.”