Sixth Street and Patron Capital to acquire CALA Group from Legal & General for £1.35bn.

Sixth Street, a global investment firm, and Patron Capital, a private equity real estate fund, agreed to acquire CALA Group, a housebuilding company, from Legal & General, a UK financial services provider, for £1.35bn. "This transaction demonstrates continued momentum in executing our strategy, simplifying our portfolio to enable a sharper focus on our core, synergistic businesses. Cala has been an important part of L&G for over a decade, with profits increasing ten-fold since our initial investment in 2013. The sale announced today will provide capital to deliver our strategic goals of sustainable growth alongside enhanced returns for shareholders. I would like to thank the whole Cala team for their contribution to the Group and wish them every success in the future," António Simões, Legal & General Chief Executive Officer.