Legal & General Property (LGP) has received a further £117 million from three corporate pension schemes to buy inflation-protected properties in the U.K., Financial Times reports. The unit of Legal & General Investment Management raised the money for its recently launched LPI Income Property fund, which targets a real yield of over 4.5% per year. The move brings total commitments in the LPI fund, launched last July to invest mainly in government-backed and inflation-linked sources of rental income, to £180 million. New commitments to the fund, which has already invested £80 million, included a allocation from the Michelin Pension Plan.
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