Lloyds Banking Group will partner with Grainger for a property assets deal, Financial Times reports. As per the agreement, the U.K. residential landlord will manage a portfolio of homes on behalf of administrators for the housing groups backed by Lloyds. The first group is likely to be a residential property fund backed by debt from HBOS that was acquired by Lloyds during the financial crisis. The new business will be managed by Grainger fund manager, Alex Greaves.

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