Asset Management

L&G acquires real estate group Proprium to fuel private markets push

Deal is the latest for the UK asset manager amid plan to grow private markets assets to £85bn

L&G said ‘international scale’ will be key to winning in a hotly contested space
L&G said ‘international scale’ will be key to winning in a hotly contested space Photo: Dylan Garcia/Alamy

L&G, the London-listed insurance and investment group, has acquired real estate investor Proprium Capital Partners as part of a drive to bolster its presence in private markets.

The group’s £1.1tn asset management division has bought a 75% stake in the $3.5bn group, which was founded in 2013 as a spin-out of Morgan Stanley’s real estate special situations team.

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