1. PETE GLADWELL Head of Public Sector Partnerships 10 October 2013
Where Public & Private Sectors Intersect: Closing the Divisions to Address a Common Need LEGAL & GENERAL November 2015
MAY 2013 1
PETE GLADWELL Head of Public Sector Partnerships 10 October 2013
EVERY DAY MATTERS 1

2. Public Sector… or Private Sector?
Conservative
11 mn
Labour
9 mn
UKIP
4 mn
SNP
1.5 mn
Liberal
Democrats
2.5 mn
Green
1 mn
8 mn
Number of votes at General Election 2015

3. Approached with a different mindset…
Corporate Social Role: Investing Society’s Long Term Capital to address Society’s Long Term Needs

4. Flexibility across the Debt / Equity spectrum… Recent Direct Investment Examples:
£252m investment
50 Years Investment
4,000 homes nationwide
Inflation linked lease
(PfP receives all returns over the lease rent, including over 40% of rental income and all capital value growth)
Salford Media City
Home of BBC
Purchase half of a £500mn development
Permission for 1,851 homes
Shared risk / return with Peel Holdings
Walthamstow
Purchased Build-To-Rent (PRS) site on open market with outline planning
Seeking permission for 350+ units
L&G takes full risk and full returns
Low
Shared
Full
Risk / Return to L&G

5. Financial and Social Returns can go hand in hand
Central Square, Cardiff – CGI of redevelopment
Financial
Shared
Social
Returns valued by both L&G and our Public Sector Partners

6. Directing Society’s Long Term Capital to the Long Term Need
Housing Associations
Flexibility to take More
HOUSING
Care Home Operators
Long-Term Investment
Developer/Contractor
CARE
HEALTH
Grant (Govt borrowing)
Local Authorities (and Govt) Identifying and Quantifying Long Term Need
Or Less Risk
Seeking an organic and simple transmission of Capital to address Need

7. Conditions for delivery?4
Conditions for delivery?
Leadership
Trust
Clarity on requirements
Dedication
Prioritisation
“You only live once, but if you do it right, once is enough.” 7