Investment manager Man Group has secured a £50m funding package from HSBC to build more than 1,300 properties across the country, with 90% of the homes expected to be affordable.
Man GPM, the global private markets business of Man Group, will use the funding package to assist with the initial build of 600 homes across the South East, Midlands, Cambridgeshire and East Sussex.
Shamez Alibhai, managing director and head of community housing at Man GPM, said: “Working with HSBC UK significantly enhances the ability to realise our ambition to create more affordable, sustainable homes in the UK. The funding represents our community housing team’s first ESG loan, which is an important milestone for us.”
Dan Wright, head of housing at HSBC UK, added: “HSBC UK is committed to helping its clients accomplish their social responsibility goals. The provision of affordable housing not only makes good business sense but more importantly will have a big impact on our communities.”
Man GPM was advised by JLL debt advisory.
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