Historic Merger Creates a £4.7 Billion Powerhouse

In a landmark deal, Legal & General Group plc (L&G) and Federated Hermes Inc. have announced the merger of the Federated Hermes Property Unit Trust (FHPUT) into L&G's Managed Property Fund (MPF). This strategic move forms a combined platform with a staggering valuation of £4.7 billion, marking a significant milestone in the UK's property investment landscape.

A New Era for Property Investment

The merger will see a substantial transfer of FHPUT unitholders' holdings to the MPF, alongside the acquisition of FHPUT's real estate portfolio. Michael Barrie, L&G's Head of Real Estate UK & Europe, emphasized the merger's potential: "By leveraging our deep sector expertise and fostering strong partnerships, we are poised to unlock resilient, long-term value for our investors."

Consolidating for Growth and Sustainability

This transaction not only brings together two of the UK's most established property funds but also sets the stage for enhanced scale, liquidity, and sustainable growth opportunities. The merger is a testament to the enduring strength and innovation within the UK's property investment sector.