The Homes and Communities Agency is setting up a new arm
headed up by bankers to manage a £25 billion ‘recoverable’ investment
portfolio. Under the plan the agency will take on three senior bankers on
secondments as part of plans to recruit around 40 extra members of staff to
create a new 80-employee ‘HCA Investments’ division. The move is a response to
a shift in emphasis in government policy from grant funding to programmes under
which the government expects to recover its investment through instruments such
as equity loans and guarantees. The total value of these programmes will
increase from around £2 billion last April to £25 billion. Read more on Inside
Housing.
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