Legal & General Capital has promoted Jasan Fitzpatrick to managing director of principal investment.
He will be responsible for LGC’s investments in venture capital and SME finance, as well as build-to-rent and affordable housing.
L&G said a key area for the business would be delivering access to the venture capital asset class for its defined contribution customers, while creating an asset portfolio that complements Legal & General Investment Management’s investment strategy and supports the growth of L&G’s retirement arm.
In venture capital investing LGC has deployed around £140m across 14 funds.
Fitzpatrick has been at LGC since July 2018, when he joined from Cala Group, where he was general council and company secretary, a position he also held at Premium Credit, a finance business owned by the private equity house Cinven.
He also spent more than 10 years at Northern Rock as its general council and company secretary.
Fitzpatrick said: “The VC ecosystem is growing strongly in the UK. Forming an increasingly important part of the UK economy, start-ups and scale-ups continue to transform entire industries, generating strong returns and revolutionising the way we live, work and play.
“Legal & General has committed capital to continue to support these businesses through existing venture capital managers. We also continue to see compelling opportunities to invest in the build-to-rent and affordable housing sectors.”
To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
