Phoenix to invest £90m in affordable housing

Investment will support Alliance Homes

Holly Roach
clock • 1 min read

Phoenix Group has invested £90m of long-term funding through a private placement to regulated social housing provider Alliance Homes.

The investment by Phoenix will support Alliance to develop around 2,000 affordable homes over the next ten years to help address the UK housing crisis. Alliance will use part of the funds to improve the sustainability of its current housing stock by bringing all homes to an Energy Performance Certificate (EPC) rating of ‘C' or better. Phoenix was chosen as lead investor with funding provided through asset management partner Macquarie Asset Management, and the transaction brings Phoenix's total UK social housing holdings to more than £2.5bn. Phoenix Asset Management investment manager ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Far from the Madding Crowd: An investment moment in time

Far from the Madding Crowd: An investment moment in time

'Our hunt for undervalued shares takes us away from the crowd'

Ben Preston
clock 23 February 2024 • 3 min read
Abrdn debuts exclusive MPS with BoE base rate aligned return aim

Abrdn debuts exclusive MPS with BoE base rate aligned return aim

‘We have spent a lot of time talking to advisers about solutions’

Hope Coumbe
clock 21 February 2024 • 1 min read
Socially responsible investing index-based MPS range hits market

Socially responsible investing index-based MPS range hits market

Ebi Portfolios teams up with European asset management giant Amundi

Hope Coumbe
clock 20 February 2024 • 1 min read