Legal & General Capital appoints new sector investment head
The alternative assets business of pensions and insurance group Legal & General has appointed a new head of investment for housing.
Vanisha Thakrar, who was previously a director at Harrison Street Real Estate Capital, joins Legal & General Capital as its head of investment for housing
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Vanisha Thakrar joins Legal & General Capital (LGC) in what the company has described as “the next phase of growth” for its housing platform.
Ms Thakrar has 13 years of real estate investment experience, and was previously a director in the European transactions group of Harrison Street Real Estate Capital. Here, she was responsible for sourcing, underwriting and executing transactions within the student housing and residential sectors, as well as establishing and managing joint venture relationships.
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LGC said that Ms Thakrar would support the growth of its multi-tenure housing platform both in the UK and “increasingly” abroad, in line with its “international ambitions”.
The housing portfolio includes affordable, build-to-sell, build-to-rent, later living and modular homes.
Ms Thakrar will also be responsible for the portfolio management of a number of LGC’s existing investments, and will lead on the strategy, creation and execution of new business opportunities.
The appointment comes after a number of investment commitments from the major asset management firm. In May, Legal & General announced that it would invest £4bn in various projects by the West Midlands Combined Authority in a partnership agreement, including social and affordable housing.
A month earlier, the firm’s bulk annuity arm, Legal & General Retirement Institutional, pledged to invest £2bn in the broader affordable housing sector over the next five years. The investment will be made through its specialist division Legal & General Affordable Homes, which owns a number of for-profit registered providers.
Commenting on her appointment, Ms Thakrar said: “I am delighted to join Legal & General Capital to support and build upon the positive impact the business is already creating through the delivery of deeply required residential housing across the UK.
“I look forward to working with the housing leadership team to create further opportunities to evolve and expand LGC’s multi-tenure housing platform to deliver the homes society needs.”
Simon Century, managing director of housing at Legal & General Capital, said: “Housing represents a major growth sector for Legal & General Group, as we seek to tackle the housing crisis head on, providing homes for all demographics, ages and tenures.
“Vanisha brings with her a wealth of experience to support the next stage of growth for our housing platform, in line with our ambitions to deliver much-needed housing at scale both in the UK and abroad over the coming years.”
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