The Lancashire County Pension Fund is investing a further 拢120m (鈧�155m) in a UK affordable-housing provider.
Heylo Housing, owned by Internos, said the UK pension fund increased its investment in the company to 拢300m from the 拢180m first committed in 2014.
Lancashire, which is currently partnering with the London Pensions Fund Authority (LPFA) to launch a 拢10bn asset pool as part of the UK government鈥檚 attempts to increase scale among local authority pension schemes, said the investment would shift from its portfolio into the pool 鈥渋n due course鈥�.
As its partnership with LPFA falls below the 拢25bn asset target set by the government, it is , which have joined to form a 拢35bn partnership.
Heylo said it has invested more than 拢60m of the capital to date, with a further 拢120m committed.
The additional funding, according to Heylo chief executive Nicholas McAlpine-Lee, will support the company鈥檚 鈥渃ontinued desire to do all it can to deliver affordable shared-ownership housing to communities across the country鈥�.
A bond issue is expected to raise a further 拢620m from corporate pension funds.
Heylo, which has approximately 600 affordable homes in 40 local authorities, is aiming to double its portfolio this year.
