Midlands-based pool LGPS Central has welcomed the official opening of Warwick Hospital’s redeveloped main entrance and retail hub, a project completed by the pool through an investment partnership with Macquarie Asset Management.
The redevelopment forms part of a wider programme of LGPS pool-backed hospital improvements across the Midlands, which also includes the refurbishment and expansion of administration, communal, and retail spaces at the Princess Royal Hospital in Telford, and the construction of a new 875-space multi-storey car park at the Royal Derby Hospital.
The projects are being financed through a combination of development finance and forward funding agreements with specialist developer Noviniti, with Macquarie Asset Management acting as investment manager on behalf of institutional investors such as LGPS Central.
This will no doubt get a big thumbs up from Number 11 Downing street, as these are the type of localised infrastructure and private market investments the chancellor Rachel Reeves wants the LGPS to get more involved in.
“By investing in infrastructure of this kind, LGPS Central is helping to deliver long-term value for its partner funds while supporting the renewal of essential local services,” said Nadeem Hussain, head of private markets at LGPS Central.
Hussain added that this initiative demonstrates the positive role that pooled LGPS capital can play in delivering both sustainable investment outcomes and tangible community benefits.
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