Home > Alerts > United Kingdom > PIC invests £40 million in Greatwell Homes Housing Association
9 April 2019
“Pension Insurance Corporation plc (“PIC”), a specialist insurer of defined benefit pension funds, has invested £40 million in debt issued by Greatwell Homes, a housing association based in Northamptonshire that was formerly called Wellingborough Homes.
The funds will be used to develop 600 new affordable homes in the county. TradeRisks acted as sole financial advisor to Greatwell Homes, as well as acting as arranger and advisor for the private placement.
Greatwell Homes, which owns or manages more than 4,500 housing units in and around Northhamptonshire, has been running since 2007, when Wellingborough Council transferred its housing stock to the housing association.
To date, PIC has invested almost £1.5 billion directly into social housing. The sector continues to be important for PIC to invest in.”
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