The Wales Pension Partnership (WPP) is investing in real estate debt via a partnership with UK property lender Pluto Finance.
The UK local government pension scheme pooling entity has partnered with Pluto Finance鈥檚 local impact programme to provide capital specifically for affordable housing development in Wales.
The partnership aims to lend an initial 拢30m (鈧�35.8m) in 2025, focusing on housebuilders and developers.
Councillor Elwyn Williams, chair of the joint governance committee on behalf of the WPP, said: 鈥淭he WPP is committed to providing productive capital into Wales and we are delighted to have found a solution that delivers both in financial and local impact terms.
鈥淭his investment made through our private debt allocator, Russell Investments, will look to support both the Welsh economy and the affordable housing needs of our local community.鈥�
Ashley Manning-Brown, head of UK investor solutions at Pluto Finance, said: 鈥淲e are thrilled to be working with the Wales Pensions Partnership, to help them deliver a step change in local, affordable housing.
鈥淏y utilising our innovative approach to place-based investment, the WPP will be supporting local communities and their housing needs, while delivering investment and SME job creation into the region.鈥�
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