The £100 million Housing Growth Partnership has appointed Langham Hall, a fund administrator and depositary to the private equity and real estate market,
to provide a range of accounting services including book and record keeping for the HGP entities, preparation of HGP level quarterly management accounts and investor reports, and treasury functions.
HGP is a partnership between Lloyds Banking Group and the Homes and Communities Agency, each investing £50 million of equity.
The HGP is aimed at helping to tackle the shortage of UK house building by providing equity backing to small residential developers. Lloyds Banking Group and the HCA hope to deliver upwards of 2,000 homes by making around 50 investments within a four-year investment period.