Aviva Investors, the global asset management business of Aviva plc, announces it has completed a private placement which sees it provide £50 million in funding to Hightown Housing Association (“Hightown”), which owns and manages more than 8,700 homes and care and supported housing projects across Hertfordshire, Buckinghamshire, and Berkshire.
The investment will help Hightown continue its delivery of new, energy-efficient, and affordable housing across the region. The Association is currently aiming to provide more than 1,000 new homes over the next two years, including its flagship development of 158 homes and three commercial units in Hemel Hempstead which is due to complete in April 2024.
Aviva Investors made the investment on behalf of the Aviva UK Life annuity business, reflecting its continued desire to align investment activity with support for projects across the UK that can deliver social value and long-term benefits for local communities.
It is the 16th investment made by Aviva Investors into the sector since June 2020, with the asset manager having provided almost £800 million of financing to housing associations across the UK on behalf of its investors during that time, including Cross Keys Homes, Peaks & Plains, Wales & West, Coastal and Settle.
Source: press release received on 11 Jan 2024.