M&G’s with-profits capital backs first social rent purchase in £29m West Sussex deal
The homes are split across shared ownership and social rent tenures.
24 August 2026·1 min read
The homes are split across shared ownership and social rent tenures.
The senior facility sits alongside €182m of preferred equity from Affinius Capital and Macquarie in a €732m package on 1,812 Dublin homes.
The BPA Plus structure secures core benefits for nearly 1,200 members while preserving discretionary bonuses linked to future investment performance.
The €200m is earmarked for equity in future M&G Margay CLOs, under a joint venture the partners say will scale a multi-billion-euro European business.
The £760m buy-in with M&G is the fifth and final transaction for the Smiths Industries Pension Scheme, covering all remaining members.