Legal & General Affordable Homes bolster team with managing director for stock acquisitions

Catherine Raynsford will lead on acquisitions of existing homes, sustainable retrofitting of acquired stock and the development of large-scale partnerships

Legal & General Affordable Homes (LGAH) has hired Catherine Raynsford as Managing Director, Stock Acquisitions. Catherine will lead the growth of the business in purchasing existing occupied affordable homes, the sustainable retrofitting of acquired stock, and the development of large-scale partnerships with registered providers of affordable housing.

The appointment supports LGAH's strategic focus on building long-term partnerships with housing providers where there is scope to undertake repeat transactions at scale, enabling the delivery and preservation of more affordable housing in local communities. The acquisition and retrofitting of existing housing stock is a central component of this strategy, bringing forward future-proofed, affordable homes while allowing partner providers to reinvest capital into more housing in areas of acute need.

The appointment follows the launch of the L&G Affordable Housing Fund in July, aimed at increasing much-needed housing supply in England while delivering diversified inflation-linked cash flow for investors. Established in 2018 as Legal & General's own developer and operator of affordable housing, LGAH has invested £1bn to date and built a portfolio of 8,000 homes, with 5,000 in operation and 3,000 in development.

Catherine brings a wealth of knowledge and over 20 years sector experience. She was most recently a Director at The Hyde Group, where she led the establishment of their investment function and spearheaded their delivery of affordable housing in partnerships with institutional capital. Her prior experience also includes a senior client-facing role at JLL and development positions at housing associations.