L&G cheers push into private credit as profit jumps

cityam08-05 15:04

L&G got a boost from asset management Legal & General cheered a rise in profit amid a greater push into private credit by its asset management arm.The FTSE 100 firm toasted the “continued fundraising ...

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href=https://www.cityam.com/lg-cheers-push-into-private-credit-as-profit-jumps/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>L&G got a boost from asset management Legal & General cheered a rise in profit amid a greater push into private credit by its asset management arm.The FTSE 100 firm toasted the “continued fundraising ...</p>\n\n<a href=\"https://www.cityam.com/lg-cheers-push-into-private-credit-as-profit-jumps/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LRCY","symbol_name":"IncomeShares Lam Research LRCX Options 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across private credit, real estate and infrastructure funds.The company has set a target to exceed £85bn of private markets AUM by 2028.\n\n“The continued expansion of private markets demonstrates the growing depth and diversification of the platform,” L&G said.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n“Growth across private credit, real estate and infrastructure funds…strengthens L&G’s institutional and wealth proposition and supports the longer-term shift towards higher margin, capital-light growth.”Profit jumpsThe asset management and insurance giant reported a seven per cent increase in core operating profit, a measure of profit excluding corporate investments, to £918m for the first six months of the year, broadly in line with analyst expectations.Core operating earnings per share jumped 11 per cent to 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