Shared 19 May, 2025
L&G announces an agreement to acquire a 75% stake in the global real estate investor, Proprium, in a move which brings together the complementary capabilities of the two businesses, and accelerates L&G’s private markets growth ambitions, broadening the real estate capabilities of the firm and unlocking new geographies.
L&G is one of Europe’s largest asset managers and a leading real estate owner and manager in the UK2, with a growing platform in the US. Asset Management is the cornerstone of L&G’s growth strategy and building scale in private markets globally is key to those ambitions. With a target to grow its Private Markets platform to £85bn AUM by 2028, L&G is focused on maximising opportunities within real estate, infrastructure, private credit, and venture capital, while strategically expanding into new global markets.
As part of the acquisition, Proprium’s management team will continue to operate independently from an operational, day-to-day perspective, maintaining its current leadership structure, teams and investment process, all of which will be enhanced by working as part of the wider L&G Private Markets platform.
Eric Adler, CEO, Asset Management, L&G: “Recognising that international scale in private markets is key to delivering against L&G’s growth strategy, this strategic investment in Proprium will expand our geographical footprint, deepen our capabilities, broaden our investment strategies, and diversify our product offering. Through this acquisition, we are bringing clients a differentiated and diversified opportunity to access value creation in real estate sectors positioned for growth and scalability.”
Bill Hughes, Global Head of Private Markets, L&G: “In the last 12 months we have significantly accelerated the growth of our Private Markets platform, laying the foundations for achieving our ambitious target of £85bn by 2028. This growth trajectory is fuelled by our commitment to deliver exceptional investment outcomes that attract third party capital, and today’s announcement further demonstrates our strategic direction and plans in action. The partnership with Proprium will strengthen L&G’s investment capabilities and broaden our product offering, allowing us to bring a select range of strategies that aim to deliver the higher returns that many global investors are seeking. Benefitting from Proprium’s expertise and entrepreneurial approach, combined with L&G’s scale and balance sheet capital to catalyse opportunities, we believe the partnership will unlock substantial growth in new markets and drive significant value for our clients.”
Tim Morris and Philipp Westermann, Co-Managing Partners of Proprium Capital Partners: “Today’s announcement is testament to the strength of Proprium’s track record in delivering strong, risk-adjusted returns for investors.
“On behalf of the Proprium team, we are incredibly excited about the partnership with L&G, their financial backing and growth ambitions. Their investment opens new doors to international markets as L&G builds out its global real estate business, representing a significant milestone in the evolution of our platform at a time of immense opportunity.”
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BuiltAPI GmbH, the company pioneering API-driven data infrastructure for real estate investment and asset management, has successfully closed its latest funding round backed by industry leaders including Second Century Ventures, TDS, and Propertymark. The investment marks a major milestone as BuiltAPI expands its services across Europe and the UK, following its graduation from the REACH UK Accelerator Program.
BuiltAPI tackles one of the real estate sector’s most persistent problems: fragmented, siloed data ecosystems. The company provides a robust API framework that enables seamless connectivity between legacy systems, modern SaaS tools, and intelligent automation platforms — with interoperability, governance, and cybersecurity at its core.
“We’re building the backbone of real estate data infrastructure,” said Olga Dentzel, Co-Founder of BuiltAPI. “This funding and the support of the REACH UK program are accelerating our ability to deliver secure, scalable integrations to clients across borders.”
BuiltAPI’s technology is already making an impact with major real estate institutions such as HIH Real Estate and its fund service platform INTREAL, through their digital unit INTREAL Solutions. These collaborations highlight a shared vision for practical and scalable digital transformation in real estate asset and investment management.
“The industry doesn’t need yet another tool — it needs a connective tissue,” added Ivan Nokhrin, Co-Founder of BuiltAPI. “Our mission is to empower real estate professionals to access, share, and act on their data securely and without barriers.”
Graduation from the REACH UK Accelerator — the scale-up program backed by Second Century Ventures – marks BuiltAPI’s official entry into the UK market. The program has played a key role in unlocking investors support and refining BuildAPI’s growth trajectory.
BuiltAPI GmbH, the company pioneering API-driven data infrastructure for real estate investment and asset management, has successfully closed its latest funding round backed by industry leaders including Second Century Ventures, TDS, and Propertymark. The investment marks a major milestone as BuiltAPI expands its services across Europe and the UK, following its graduation from the REACH UK Accelerator Program.
BuiltAPI tackles one of the real estate sector’s most persistent problems: fragmented, siloed data ecosystems. The company provides a robust API framework that enables seamless connectivity between legacy systems, modern SaaS tools, and intelligent automation platforms — with interoperability, governance, and cybersecurity at its core.
“We’re building the backbone of real estate data infrastructure,” said Olga Dentzel, Co-Founder of BuiltAPI. “This funding and the support of the REACH UK program are accelerating our ability to deliver secure, scalable integrations to clients across borders.”
BuiltAPI’s technology is already making an impact with major real estate institutions such as HIH Real Estate and its fund service platform INTREAL, through their digital unit INTREAL Solutions. These collaborations highlight a shared vision for practical and scalable digital transformation in real estate asset and investment management.
“The industry doesn’t need yet another tool — it needs a connective tissue,” added Ivan Nokhrin, Co-Founder of BuiltAPI. “Our mission is to empower real estate professionals to access, share, and act on their data securely and without barriers.”
Graduation from the REACH UK Accelerator — the scale-up program backed by Second Century Ventures – marks BuiltAPI’s official entry into the UK market. The program has played a key role in unlocking investors support and refining BuildAPI’s growth trajectory.
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