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SECTORS
Offering long-term financing across a range of sectors
Real Estate & Housing
In recent years we have provided nearly £2 billion of long-term real estate financing. We consider funding requests across a range of real estate sectors, with a preference for diversified portfolios. Our real estate clients include public and private property companies, REITs, charities and family offices.
In particular, we have a strong track record in the UK residential sector having committed over £800m in funding to date. We have financed large-scale residential portfolios across the spectrum, supporting build-to-rent apartments, family housing, mid-market rental, senior living as well as accommodation to tackle homelessness.
We provide £3.1bn of loans to UK Social Housing and are continuing to expand our support to this key sector. Our clients are typically registered providers with more than 2,000 homes under management and have a strong focus on general needs social housing provision.
Infrastructure
We have a sizeable infrastructure portfolio of around £2.5bn. Since 2017 we have invested more than £1 billion in infrastructure and energy debt. We mainly focus upon funding UK infrastructure assets and projects, covering energy (including renewables), social, transportation and economic infra assets.
We also consider non-UK opportunities, specifically USD and EUR denominated investments on a selective basis.
Higher Education
We have a substantial portfolio of loans to UK universities and we are happy to consider long-term funding to regulated, degree-awarding institutions.
Derivatives
We are an investor in derivatives as a source of credit risk premium, in both inflation and interest rates. Structures we offer include direct swaps, swaps repackaged into notes and other mechanisms where we assume the credit risk of the counterparty.
To date we have invested nearly £1bn in derivative transactions across a range of underlying credits, predominantly in the infrastructure and utilities sectors, but with appetite in all sectors meeting our lending criteria.
Read Scottish Widows’ Terms of Business for derivatives investments. (PDF, 358KB)
Securitisation / Structured Credit
Our Structured Credit team has delivered a number of portfolio purchases, securitisation investments and set-up multiple lending platforms in the consumer and SME sector including lifetime mortgages, student loans and agricultural mortgages.
All data as at 30th June 2023