PIC makes new investment in social housing provider

Written by Adam Cadle

26/10/2022

Pension Insurance Corporation (PIC) has made its fourth investment, of £40m, in secured debt issued by mhs homes, a provider of social housing based in Kent.

The investment will fund the development of over 600 new properties. PIC’s first debt investment in mhs homes was a £40m transaction to provide over 400 new properties, signed in 2016, with a further two transactions totalling £50m in 2017 and 2021.

Eugenia Korobova, senior debt origination manager at PIC, said: “PIC continues to be an active lender to housing associations such as mhs homes and we expect to see more such deals as the sector responds to the requirement to be net-zero housing providers by 2050.

“Investing in projects which generate social value, such as social housing, also helps protect PIC’s policyholder payments over the long term, allowing us to fulfil our purpose, and benefits many of the thousands of people who will live in the homes built as result of our long-term partnership with mhs homes.”

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