Legal & General puts asset management front and centre as it reiterates private markets push

Private assets AUM target over £80bn

FTSE 100 giant Legal & General has thrust its asset management business to the fore as it seeks to gain a larger chunk of the rapidly growing asset allocation to private markets and expand internationally.

At an investor event today (17 June), L&G's asset management CEO, Eric Adler, who joined the firm late last year, said the company has been focusing on the "need for greater scale in private markets capabilities".  Adler and L&G's CEO, António Simões, doubled down on their existing commitment to grow the firm's private markets assets under management (AUM) to £85bn by 2028, from its £57bn level at the end of the most recent financial year.  Legal & General to cut jobs in revamped asset management arm The asset manager CEO explained that L&G intends to do this by scaling its UK real...