Pluto Finance has secured £30m in funding from The Wales Pension Partnership (WPP), a collaboration of eight local government pension schemes (LGPS), to support the development of affordable housing across Wales.

WPP will channel the investment through Pluto Finance’s local impact programme, which enables LGPS funds and pools to contribute to place-based investments while maintaining diversification within a national loan portfolio.

The initiative is particularly focused on supporting SME housebuilders, many of whom have struggled to secure traditional bank financing following recent regulatory changes.

WPP highlighted that the funding will have a meaningful impact on Welsh communities by driving the construction of affordable homes, boosting regional economic growth, regenerating local areas, and creating jobs for SMEs.

Elwyn Williams, chair of the WPP joint governance committee, said:
“The Wales Pension Partnership is committed to providing productive capital into Wales, and we are delighted to have found a solution that delivers both financial returns and positive local impact. This investment, made through our private debt allocator, Russell Investments, aims to support both the Welsh economy and the affordable housing needs of our communities.”

Ashley Manning-Brown, head of UK investor solutions at Pluto Finance, added:
“We are thrilled to be working with the Wales Pension Partnership to help bring about real change in local, affordable housing. By leveraging our innovative approach to place-based investment, WPP will provide much-needed support to communities while also driving investment and job creation across the region.”

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