– Pension Insurance Corporation plc (‘PIC’), a specialist insurer of defined benefit pension schemes, has completed a £130 million debt investment with Raven Housing Trust (‘Raven’), which will be used to finance the development of 630 homes by 2026. 58% of the homes will be for social or affordable rent and 30% will be for Shared Ownership accommodation.
PIC was chosen as sole lender following a full market tender due to its flexibility on maturity and deferral capabilities. PIC has invested £3.3 billion in social housing across the UK since 2012.
Raven is a not for profit Registered Provider of Social Housing that invests in homes across Surrey and Sussex. Raven currently owns and manages 7,117 properties across ten Local Authority areas in the South East of England.
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