London, UK – 20 Oct, 2025 – Legal & General (L&G) has announced a landmark £2 billion commitment to impact investment by 2030, aimed at supporting regional growth, infrastructure, and urban regeneration across the United Kingdom. The investment is positioned to create approximately 24,000 jobs and deliver around 10,000 new social and affordable homes, reinforcing the company’s dual purpose of achieving strong financial returns while delivering meaningful societal outcomes.

Backed by L&G’s balance sheet and co-investment from capital managed on behalf of pension scheme clients and master trusts, the initiative reflects strong institutional confidence in the resilience and long-term potential of the UK economy.

The announcement aligns with the Government’s broader ambition to unlock regional economic growth through productive pension fund investments. Legal & General has also joined Sterling 20, a newly formed coalition of Britain’s largest pension providers working in partnership with the UK Government to channel long-term capital into critical national infrastructure. Representing over £3 trillion in assets, Sterling 20 will collaborate with government and local authorities to identify and fund key projects supporting job creation, sustainable housing, retrofitting, and the development of knowledge economy hubs.

Legal & General’s £2 billion programme will build on its established track record in place-based investment including regeneration projects in Oxford, Glasgow, Cardiff, Newcastle, Salford, and Sheffield that have already delivered measurable local economic impact.

In an official press release, António Simões, Group Chief Executive Officer of Legal & General, stated: “As a long-term investor in the UK economy, L&G has a proud history of using pension capital to develop assets that deliver strong financial returns and lasting social impact. Our £2 billion commitment will help unlock the investment needed in productive assets across the country – creating jobs, strengthening communities, and driving both regional and national growth.”

The Chancellor of the Exchequer, Rachel Reeves, welcomed the announcement, stating: “This is about getting Britain building again – bringing our savings, our investors and our regions together to deliver the homes, infrastructure and industries that will drive growth and create good jobs in every corner of the country. Our country’s pension funds are some of the biggest in the world. When they invest in Britain, everyone benefits – from the construction worker on site, to the small business on the high street, to the saver seeing their pension grow. Sterling 20 shows what can be achieved when we all pull in the same direction to build a stronger economy that works for, and rewards, working people.”

The investment will be directed toward projects that foster inclusive and sustainable economic development, with allocations determined by local needs and measurable financial, environmental, and social outcomes. This approach underscores L&G’s continued leadership as a signatory of the Mansion House Accord, demonstrating its ongoing dedication to deploying pension capital productively within the UK.

Through initiatives such as the L&G Private Markets Access Fund, which already totals over £2 billion, the company has showcased how pension assets can support long-term economic growth while providing meaningful benefits to local communities.

Among L&G’s earlier place-based investments are:

• A £350 million partnership in Newcastle that transformed a former brewery site into Newcastle Helix, a 24-acre innovation district combining homes, office spaces, and research facilities. The project has generated high-value STEM employment, reduced carbon emissions by approximately 13,000 tonnes of CO₂, and advanced North-East regional innovation.
• A £1 billion regeneration project in Cardiff’s City Square, undertaken with Cardiff City Council, which created 13,000 jobs, added £1.1 billion in gross value to the regional economy, and improved infrastructure and housing.

These landmark outcomes embody L&G’s place-based investment philosophy, which integrates financial discipline with sustainable development to drive broad-based prosperity across UK regions.

The timing of this announcement coincides with the first-ever Regional Investment Summit in Birmingham, where public and private sector leaders, including members of Sterling 20, will convene to strengthen collaboration and identify opportunities to deploy capital toward high-impact infrastructure programmes.

Legal & General’s £2 billion pledge marks a decisive step in aligning private investment with the UK’s long-term strategic priorities building not only assets but also resilience, opportunity, and shared growth for communities across the nation.