Legal & General Investment Management has appointed Adam Burney as head of annuity of its build-to-rent platform.
Burney (pictured) will be responsible for the Legal & General Retirement Institutional BTR mandate. He will help LGRI invest £2.5bn of long-term retirement funds into BTR schemes over the next five years, which will create more than 7,000 new homes.
He will also deliver the investment strategy, working with the transaction, development and operations teams.
Burney joins from London Square, where he was an investment director.
He said: “The focus on innovation, both during development and operations, to provide sustainable buildings and deliver environmental credentials of the highest calibre is at the forefront of the industry.
“As the demand for BTR is on the rise, I look forward to maximising our strategy to meet L&G’s commitment to the UK’s housing provision, while delivering robust returns for investors.”
Dan Batterton, head of residential, LGIM Real Assets, said: “Over the past few years, the BTR sector has come into its own. It has cemented its position in the UK as an asset class and further proved its resiliency. As a result, we are seeing a growing demand from investors to gain access to the sector.”
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