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LV= signs investment deal with AgFe

Press release: 03/06/2014

Retirement specialist LV= has agreed an investment deal with AgFe, an asset management firm that specialises in commercial real estate lending. The move is part of LV=’s plan to continue to strengthen its business as it looks, post Budget, to build on its comprehensive range of retirement income solutions.

LV= has mandated AgFe to source investment grade commercial mortgage lending opportunities for it to finance, with a potential investment of up to £1bn. LV= Retirement Solutions’ deal with AgFe marks its first direct investment into commercial mortgages.

The business already invests in equity release and corporate bonds to fund its suite of retirement income options, specifically its guaranteed income products.

Richard Rowney, Managing Director of LV= Life and Pensions said: “We continuously review our investment portfolio in order to ensure we are achieving the best possible return. We have chosen to enter into commercial mortgage lending as it fits both our business model and investment needs, and will mean LV= has an even more diversified asset class.

“We have been very impressed with AgFe’s skills and capabilities, not only for fixed rate deals, such as this one; but also their floating rate funds. This is a new venture for LV= and AgFe’s expertise and bespoke, client-oriented approach makes them the ideal partner to help support our retirement business’ investment strategy.”

Natalie Howard, Head of Real Estate at AgFe said: “ We are delighted that LV= has selected AgFe to manage their entry into the real estate senior debt asset class and we look forward to helping them with their investment in this market.”

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About AgFe

Founded in 2006, AgFe is a fully independent advisory and asset management firm. As a leading specialist in complex debt-based investments AgFe provides a broad range of services to institutional clients.

With a team of more than 40 people AgFe delivers client-driven solutions relating to assets including: commercial and residential mortgages; corporate loans; consumer finance; trade assets; aircraft; infrastructure; short-dated fixed income and cash equivalents. AgFe also has expertise through all stages of the asset life-cycle: from origination to disposals; financings to restructurings; analysis and modelling; and asset management. Proprietary technologies and innovative approaches to credit help position AgFe at the leading edge of financial solutions in the markets that we cover.

AgFe is headquartered in London and is authorised and regulated by the Financial Conduct Authority as an advisor and asset manager.