Legal & General Investment Management (LGIM) has expanded its existing relationship with Jigsaw Homes Group via a new £50m bilateral investment. The proceeds of this new investment will primarily be used by Jigsaw to support its development programme.
As one of the largest housing providers in England, Jigsaw builds, renovates and manages affordable housing for rent and sale, with more than 36,000 homes across the northwest and east midlands.
The investment follows two previous loans by LGIM to Jigsaw in 2014 and 2015, totalling £75m.
Jigsaw finance director Paul Chisnell said: “As we continue with our plans to help tackle the current shortage of new affordable housing, this partnership approach with LGIM helps us take another step forward in our commitment to deliver 4,000 homes over the next five years, as well as investing in projects and assets that increase life opportunities for our residents.”