Legal & General Group Plc Legal & General Capital - Capital Markets Event (0154P)
October 14 2021 - 02:00AM
UK Regulatory
TIDMLGEN
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 cGBP5 billion by 2025
-- Generating returns on the alternative asset portfolio of 10-12% by 2025
-- Generating GBP500-600 million of operating profit from
alternatives (GBP600-700 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 GBP1.3 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 +44 (0)20 3124
2091
Sujee Rajah Investor Relations Director +1 312 964 3034
Nim Ilankovan Investor Relations Director +44 (0)20 3124
2047
Media
John Godfrey Corporate Affairs Director +44 (0)20 3124 2090
Graeme Wilson Tulchan Communications +44 (0)20 7353 4200
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