Legal & General Group forms U.S. venture to invest in life science, tech real estate

Legal & General Group forms venture to invest in life science, tech real estate (LGGNY)

May 24, 2022 by Seeking Alpha

Key Facts

  • urfinguss/iStock via Getty Images A unit of Legal & General Group (OTCPK:LGGNY) (OTCPK:LGGNF) is forming a 50-50 partnership with closely held U.S.-based real estate developer Ancora to create a real estate platform focused on investing in life science, research, and technology growth in the U.S.
  • Legal & General Capital ("LGC") will invest an initial $500M of seed capital to form the new company, Ancora L&G, that will focus on emerging regional markets in the U.S.
  • Legal & General Group (OTCPK:LGGNY) currently manages more than $1.8T of assets globally and is increasing its presence in the U.S. for both equity and debt vehicles.
  • “While the U.S. is the world’s largest commercial real estate market, the lab real estate market in particular is one of the smallest sectors among other commercial U.S. asset classes," said Legal & General (OTCPK:LGGNY) CEO Sir Nigel Wilson.

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