Legal & General Group to acquire a 75% stake in Proprium Capital Partners.

Legal & General Group, a company that offers financial services, agreed to acquire a 75% stake in Proprium Capital Partners, a real estate private equity firm. Financial terms were not disclosed. “The partnership with Proprium will strengthen Legal & General’s investment capabilities and broaden our product offering, allowing us to bring a select range of strategies that aim to deliver the higher returns that many global investors are seeking. Benefitting from Proprium’s expertise and entrepreneurial approach, combined with Legal & General’s scale and balance sheet capital to catalyse opportunities, we believe the partnership will unlock substantial growth in new markets and drive significant value for our clients,” Bill Hughes, Legal & General Global Head of Private Markets.