法律 & General announces £200m funding of Oxford University innovation centre for Life and Mind sciences
法律 & General announces that it will fund and deliver a new sciences building with the University of Oxford to serve as a world-class home for their departments of Zoology, Plant Sciences and Experimental Psychology.
Legal & General entered into a £4bn partnership with the University of Oxford in June 2019, forming Oxford University Development (OUD) in order to provide thousands of new homes for staff and students, as well a number of innovation facilities. Demonstrating how Legal & General’s diverse skillsets and capital streams can be put to work, the scheme will be funded by long-term annuity money from Legal & General’s retirement business, with 法律 & General Capital acting as Developer and LGIM Real Assets as Development Manager.
By building out a network of high-quality research and innovation facilities, the partnership will seek to retain talent in the city, boost the economy and support spin-out and scale-up businesses. Bolstering its long-term pension commitments by creating real assets which provide new jobs, housing, productivity and wage growth, 法律 & General is able to invest society’s capital for society’s benefit.
The demolition of the existing Tinbergen building is due to be complete by October 2020, with 法律 & General to begin construction on the site in July 2021.
法律 & General has invested over £25bn in levelling-up regional economies throughout the UK, including by forming major partnerships with local and central governments, universities and local businesses in Cardiff, Greater Manchester and Newcastle. By facilitating investment the UK’s regional cities, we are creating a virtuous cycle whereby pensions and savings are used to create positive social, environmental and economic outcomes which are in line with our commitment to Inclusive Capitalism.
Nigel Wilson, Chief Executive at 法律 & General
The University of Oxford is delighted to be working in partnership with 法律 & General to deliver a landmark Life and Mind building that will transform the relationship between the biological and psychological sciences. This fabulous building will provide innovative facilities for teaching and research, which will enable Oxford to train a new generation of scientists who in turn will help us to address critical global challenges.