People Moves: L&G appoints Dan Batterton as Head of Housing
Press Release -- Global investor L&G has appointed Dan Batterton as Head of Housing, UK, effective immediately. Dan has been promoted to lead housing investment across L&G's Asset Management business, encompassing build-to-rent, single family housing, affordable housing operations and purpose-built student accommodation.
- The newly created role oversees a unified housing platform, combining businesses with over £5 billion AUM and more than 17,000 homes across all tenures[1].
- L&G is targeting £10bn of AUM for Housing by 2028*, viewing it as a key sector within its private markets strategy.
Dan has over 20 years of experience in the property sector. His expertise in portfolio strategy has helped shape L&G's long-term acquisition, development, sustainability, and operational plans for the residential sector. Dan has launched several new investment strategies during his time at L&G, notably the Build-to-Rent platform in 2016, which has grown to over £4 billion and over 10,000 apartments across the UK[2]. Additionally, Dan has been instrumental in securing co-investment opportunities from UK and international partners to enhance the UK's rental supply. His team also shaped the recent purpose-built student accommodation operational strategy. L&G plans to deploy approximately £0.5 billion into this sector over the next two years, aiming to grow the portfolio to over £1 billion and manage around 5,000 beds across the UK.
L&G's housing platform is one of the cornerstones of its private markets capabilities. As a leading direct investor, manager, lender, developer, and operator in residential property with one of the largest and most diverse platforms in the UK, we believe L&G is uniquely placed to tackle the current housing crisis and deliver the homes needed given the expertise across investment management all the way through to the development and operations of assets. As well as building more homes across the UK L&G is also focused on deepening its international presence and remains committed to attracting third-party capital to co-invest into housing. L&G recently secured more than £500 million for its Affordable Housing Fund[3] and secured new co-investment opportunities from UK and overseas partners to help increase the UK's rental supply.
Growing L&G's housing platform is a strategic commercial priority, with this appointment bringing the leadership of the Group's UK housing offerings under one integrated platform to facilitate its continued growth. L&G is targeting £10bn of assets under management for housing by 2028, placing it as a central component of its long term strategy. With a wider target to grow its Private Markets platform to £85bn AUM by 2028, L&G is focused on maximising opportunities within real estate, infrastructure, private credit, and venture capital, while strategically expanding into new global markets.
Dan Batterton, Head of Housing, L&G: "I am delighted to be leading L&G's UK housing business under one integrated platform, bringing together the different tenures we provide to help scale this critical component of our private markets strategy. 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."
Michael Barrie, Head of Real Estate, UK & Europe, L&G: "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. The UK faces a severe housing crisis, and we are seeing growing demand from clients seeking exposure to the sector, offering attractive returns alongside positive social impact. L&G is committed to expanding our housing footprint to help deliver much needed homes across the country, and I look forward to working with Dan to execute our growth plans and take this vital component of our strategy from strength to strength."
*Assumptions, opinions, and estimates are provided for illustrative purposes only. There is no guarantee that any forecasts made will come to pass.
Source: Press Release
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About L&G
Established in 1836, L&G is one of the UK's leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at FY24) of which c. 44% (c. £0.5 trillion) is international. We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the longterm savings and investment needs of customers and society.
About our Asset Management business
L&G's Asset Management business is a major global investor across public and private markets, with £1.118 trillion in AUM.* Our clients include individual savers, pension scheme members and global institutions, who invest alongside L&G's own balance sheet. We provide investment solutions from index-tracking and active funds to liquidity and liability-based risk management strategies. Our investment philosophy and processes are focused on creating value over the long term. We believe that incorporating financially material sustainability criteria, when relevant to our clients, can create value and drive positive change. This reflects L&G's purpose: 'Investing for the long term. Our futures depend on it.'
*Source: L&G internal data as at 31 December 2024. The AUM disclosed aggregates the assets managed by L&G in the UK, US, and Hong Kong (2018-2019 only) and Singapore from July 2023. Excludes assets managed by associates (Pemberton, NTR, BTR).