Breaking new ground in the US

Background

In 2016, the University of California was seeking funding for the US$1.34 billion* expansion of its Merced campus – a four-year project designed to almost double its capacity by 2020.

Solution

We broke new ground by becoming part of the first educational private-public sector partnership in the US. Our strong track record in infrastructure, existing presence in the US and expertise across real assets meant we had the experience and vision that the University of California needed in a partner.

Impact

The financing will help to add new classrooms, laboratories, student accommodation and amenities to sustainably enhance student life and further academic distinction. It will also help one of the poorest areas in California, creating new jobs and having a positive impact on the local community.

*Source: LGIM Real Assets, as at 30 December 2018