London-based Legal & General Capital (LGC) has entered the US market for the first time, forming a 50:50 partnership with US-based real estate developer Ancora to target the life sciences real estate sector.
LGC is investing an initial $500 million of an overall $4 billion in seed capital to form Ancora L&G, LLC.
Operating under the name Ancora, the business' geographic focus will sit predominantly within emerging regional markets in the US where early-mover advantages are available, the companies said.
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