Fund increases to £400 million to build on success to date, supporting and unlocking the potential of cities and towns across England
ECF (formerly the English Cities Fund), is a partnership between three of the UK’s leading regeneration and investment organisations, Homes England, Legal & General and Muse.
The partnership has expanded with the injection of an additional £100m of equity from the partners, to be matched by an additional £100m of debt, which provides capacity for ECF to grow to £400m to deliver transformational change in areas that need it most.
ECF, a public-private partnership, brings together Homes England’s ambition to deliver more affordable housing, Legal & General’s proficiency and experience in investing in transformative real estate and infrastructure, and Muse’s expertise in urban regeneration. It was first created in 2001 with £100m of investment to boost priority regeneration areas.
By 2036 ECF is expected to deliver more than 1m sq. ft of commercial space to support education, 17,000 new homes, and additional social infrastructure to support health and wellbeing. ECF delivers with a focus on place-based impact and investing in opportunities which deliver risk adjusted returns, alongside positive social and environmental outcomes.
Through close collaboration with local partners and understanding the needs of the communities in which it operates, ECF delivers transformative regeneration. Since its first investment in Liverpool in 2001 ECF has:
ECF helps to alleviate pressure on housing in England by delivering affordable homes in areas which need them. As part of vibrant new places, ECF also delivers workspaces and community assets. These provide long term benefits and enhance local economies.
With a strong pipeline, additional capital will build on ECF’s success to date. Increasing in size will ensure ECF has a faster and greater impact across new locations, alongside existing place-based partnerships (Salford Crescent, Manor Road Quarter in Canning Town, Stockport 8 and St Helens, Merseyside).
Sir Michael Lyons, Chair of ECF, said:
Peter Denton, Chief Executive of Homes England, said:
Laura Mason, Chief Executive Officer, Legal & General Capital, said:
Bill Hughes, Global Head of LGIM Real Assets, added:
Phil Mayall, Managing Director at Muse, said:
Notes to Editors
ECF
ECF (formerly The English Cities Fund) is a public-private partnership between three of the UK’s leading regeneration and investment organisations, Homes England, Legal & General and Muse. We work in partnership with the public sector to transform urban areas and create exceptional new places.
ECF brings together Homes England’s ambition to deliver more affordable housing, Legal & General’s proficiency and experience in investing in transformative real estate and infrastructure, and Muse’s expertise delivering urban regeneration. Our focus is on regeneration which is challenging, complex, and requires long-term vision.
Since 2001, we have delivered some of the country’s most successful urban regeneration projects. We’re proud to have taken on large, challenging projects in Liverpool, London, Plymouth, Salford, and Wakefield and created inspiring new places.
Following the expansion of the fund, announced in 2024, to £400m, we are exploring new partnerships across England, with strong public sector organisations to deliver large-scale, mixed-use opportunities. We will continue to work with existing partners across the country.