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Aberdeen Standard Investments invests £50 Million in UK social housing

22 Feb 2019

Aberdeen Standard Investments (ASI) private placement team has lent £50m to a UK social housing landlord in order to fund the development of new homes.

The loan was given to A2Dominion Housing Group to help grow its development opportunities and strengthen liquidity.

Aberdeen Standard Investments said the funding was provided on behalf of its strategic partner Phoenix Group, and will provide it with a reliable income stream until 2045, helping to meet future liabilities. The loan is secured against social housing assets, includes a deferred settlement feature to March 2020 and fully amortises over the last 10 years, resulting in a weighted average life of 20 years.

ASI has a long track record of investing in the UK social housing sector. This was the first housing private placement investment for Phoenix Group, which is keen to explore further funding opportunities in the sector.

Fiona Dickinson, Investment Director at Aberdeen Standard Investments, commented:
“Our insurance and pension fund clients continue to look for cash flows over the long-term which are secured against UK social housing. A2Dominion’s strong credit rating, which is higher than the average rating in the sector, is attractive to clients. The bilateral approach in negotiating this privately placed investment, helped to reduce the execution risk that’s associated with public bonds, given the level of uncertainty in the GBP market at present.”

Scott Robertson, Phoenix Group’s Head of Financial Management Group, added:
“We are delighted to be supporting A2Dominion’s strategic plans to deliver more homes in Southern England. Phoenix was able to work closely with our strategic partner, Aberdeen Standard Investments, to deliver a bespoke transaction which works well for both parties.”


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Notes to editors

  • Aberdeen Standard Investments is Europe's second largest real estate investment manager, managing US$56.3 billion (£43.9 billion)** of real estate assets across UK, Europe and Asia Pacific.
  • Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
  • With over 1,000 investment professionals we manage US$735.5 billion (£557.1 billion)** of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which they invest.
  • We are high-conviction, long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance.
  • Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.

**as at 30 June 2018

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Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.

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In United Kingdom issued by Aberdeen Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority in the United Kingdom. Registered Office: 10 Queen’s Terrace, Aberdeen AB10 1XL. Registered in Scotland No. 108419.

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