Legal & General Investment Management has promoted its head of property Bill Hughes to head of real assets.
The move comes as part of a restructure of its leadership team and forms part of its ambition to invest as much as £15bn into infrastructure projects across the UK. It wrote to 39 of England’s local enterprise partnerships last summer outlining its intentions.
Hughes, who has been managing director at L&G Property since joining the firm in 2007, said: “Demonstrating L&G’s continued commitment to being at the forefront of sophisticated understanding and investment into new emerging sectors, this change allows us to further capitalise on the synergies that exist across our infrastructure and property businesses.
“Like real estate, we recognise that infrastructure offers attractive inflation protection and stable yields against which we can match our long-term pension liabilities. With an indebted public sector, institutional investment in this area will be a differentiator for future UK economic growth and success.”
