Legal & General Partners With Aston Martin

Josh O'Neill

14 December 2016

is partnering with Aston Martin to help develop the luxury car company's new manufacturing facility in South Wales.

The facility, which has been funded through “significant investment” by LGIM Real Assets, will be used to produce the British car maker's latest sports utility vehicle.

Production is due to begin in 2019 and will create 750 jobs in the local area and many more throughout the supply chain, Legal & General said in a statement.

LGIM Real Assets has agreed a long-term commitment to the manufacturing facility, which in turn supports the firm's retirement division in its payment of pensioner incomes. In the past year, LGIM Real Assets has secured investments across a range of infrastructure and property transactions, all of which create long-term income for pensioners, the organisation said.

“This high quality Aston Martin facility will create hundreds of new jobs and support UK manufacturing, and with our long-term backing it will also help to pay our customers’ pensions. It is the latest example of our commitment to real asset investments which deliver good quality long-term income and play a meaningful role to the UK economy,” said Kerrigan Procter, managing director of Legal & General Retirement.