L
egal & General (L&G) has made a strategic investment in Boston-based Taurus Investment Holdings, LLC, alongside an initial commitment of up to $200 million in seed capital for multifamily investments. This partnership further develops L&G's Private Markets capabilities in the region and addresses investor demand for real estate equity exposure.
Taurus brings expertise in acquiring, developing, financing, leasing, and selling multifamily and industrial assets across the US and select global markets, with over $11 billion in value to date. The firm has a proven track record of implementing value-add investment strategies, including decarbonisation solutions.
Multifamily and industrial have grown to account for 63% of institutional real estate portfolios, driven by structural increases in demand and robust historical performance. Both sectors are underpinned by compelling macro trends, contributing to attractive long-term rental growth prospects.
This partnership accelerates L&G's ambitions in the region, adding real estate equity capability in multifamily and industrial, and enhancing its established development proposition in US real estate via a joint venture with Ancora. With access to Taurus' team and strong track record, L&G is well-positioned to meet significant investor demand for US real estate equity exposure.
António Simões, Group Chief Executive Officer of L&G, said: "This partnership will accelerate our progress in US real estate, deepening our capabilities so that our shareholders and clients can benefit from access to a fast-growing market." Alexia Gottschalch, Head of US Real Estate Equity, added: "Our partnership with Taurus accelerates our ability to capitalise on the US market and significantly scale our expertise and execution capabilities."
Peter A. Merrigan, Chief Executive Officer of Taurus, said: "This partnership presents an exciting opportunity to invest in high-quality real estate assets at scale while taking a responsible approach to deliver long-term value for our stakeholders."
