M&G and an unnamed Asian pension fund are planning to invest £1B in the UK build-to-rent sector over the next three years to capitalise on low levels of new homebuilding. 
M&G said it and its partner each put £300M of equity into a joint venture, which will be supplemented with debt and used to build out a portfolio of 3,000 rental homes. M&G’s equity would be coming from its £130B With Profits Fund. 
The JV will have a particular focus on London but will also develop in regional cities, including Manchester, Bristol, Birmingham and Leeds. 
Because housing delivery rates in London are at all-time lows, whilst demand…