Catherine Raynsford has joined for-profit provider to oversee acquisition and retrofitting of existing affordable homes
L&G Affordable Homes (LGAH) has appointed Catherine Raynsford as managing director of stock acquisitions.
The for-profit provider has hired Raynsford to lead on its strategy of acquiring and retrofitting existing affordable homes along with developing large-scale partnerships with housing associations and councils.
Raynsford joins LGAH from her role as a director at Hyde Group where she led on the establishment of the G15 housing association’s investment function. She also spearheaded the delivery of the group’s affordable housing in partnerships with institutional investors. This includes Hyde’s deal with M&G and Homes England, which will see the former invest £500m in around 2,000 new shared ownership homes.
Raynsford has also worked as a director at real estate consultant JLL and as senior development officer at housing association giant L&Q.
>>See also: Planned retrofit ramp-up sees L&G’s affordable arm double assets target
Ben Denton, chief executive at LGAH said: “I am delighted to welcome Catherine to the team as we build out our strategy of forging impactful partnerships that allow us to deliver much-needed affordable housing at scale. Her experience will be an asset to us as we continue to expand on our acquisition and retrofitting capabilities to achieve our long-term ambitions in helping to solve the housing crisis faced by communities across the UK.”
Denton last month told Housing Today LGAH is doubling under its target for assets under management by 2029 from between £3bn and £3.5bn to £7bn.
Raynsford’s move is the second high-profile departure from Hyde announced this week, following the news that chief investment officer Guy Slocombe is taking up a role at Sovereign Network Group.
No comments yet