Legal & General has launched the L&G Private Markets Access Fund with the aim of providing its 5.2m defined contribution members with access to investments not typically accessible through public markets.
The fund will provide a single point of access to a diversified portfolio of private market assets, seeking to capture the illiquidity premium in asset classes including private equity, real estate, private credit and infrastructure.
It has the ability to invest across L&G’s own private markets capabilities, providing exposure to investment themes such as clean energy, affordable homes, university spin-outs and critical infrastructure.
The L&G Build-to-Rent fund will be available for inclusion in the fund, with all asset allocation decisions made by L&G’s multi-asset team.
L&G’s strategy will include allocations to unlisted equities as part of a diversified private markets multi-asset portfolio, with the ability to allocate up to 40% into UK assets.
The announcement builds on L&G’s recent strategic update, in which the group announced that it would bring together its public and private markets capabilities in a single asset management division.
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