In the world of private markets careers, every day offers the chance to make a tangible difference.
At Legal & General (L&G), purpose sits at the heart of everything we do, from managing investments to building communities.
We spoke to one of our Private Markets professionals, Ali Farrell, who manages the Affordable Housing Fund and oversees impact and specialist strategies within Private Markets Real Estate, to learn what life behind the scenes really looks like.
What does a typical day in Private Markets look like?
No two days are ever the same. “I primarily manage the Affordable Housing Fund but also oversee impact and specialist strategies within Private Markets Real Estate,” she explains.
“We’ve raised £635m from external clients to build new affordable housing, and we have ambitions to grow further.”
That means balancing both fundraising and deployment. A typical day might include a client presentation or due diligence meeting, reviewing an investment opportunity, and connecting with colleagues across the business.
But the most rewarding moments happen on site. “My favourite type of day is visiting our affordable housing sites or completed homes and seeing the impact it’s making to our customers and the wider community. Hearing the stories of those moving into an L&G home is often what drives the team through the tough parts of the job.”
What inspired your career in private markets?
A passion for real estate and the built environment sparked Ali’s journey into the sector. “When I found out it was a tradable asset, I was sold on the career.”
After starting as a trainee chartered surveyor at JLL and later moving into real estate capital markets, she advised L&G on an acquisition before joining the company in 2015. “Back then, we were Legal & General Property, so it’s evolved so much into the Private Markets we know today.”
For Ali, it’s the purpose that makes the work meaningful. “What I like about private markets is channelling pension capital into assets that benefit communities, such as affordable housing. These are tangible assets our investors and members can really engage with.”
What skills have helped you succeed in Private Markets?
“For a Fund Manager, conviction, drive, and passion are key,” she explained. “More recently, saying ‘yes’ to opportunities outside my comfort zone has helped me grow, like giving a keynote speech at a conference in Copenhagen this year. It was daunting, but it allowed us to take the Affordable Housing Fund to a European investor market.”
Leadership skills are equally important. “I believe in the power of listening, curiosity, and empowering my team. I’m also a strong advocate for women's progress within financial services, and at L&G specifically.
Supporting women to navigate their careers will benefit the company overall, increasing the number of senior females and helping reduce the gender pay gap.”
What are some of the challenges in Private Markets?
“In the current environment, raising new capital is challenging, but as a wise colleague once said, ‘It’s not supposed to be easy, otherwise everyone could do it.’”
That perspective, along with teamwork and shared purpose, drives the team forward.
“We have a great product, an experienced team in Private Markets, a proven track record and a shared passion for building more homes. Combined with patience and perseverance, that’s translated into the success the Fund has seen.”
Can you share a project you’re especially proud of?
“The most recent transaction the Fund has undertaken is to deliver over 300 social rented homes in north London.
The team worked closely with the developer and the Greater London Authority to structure the deal so that our future customers will pay around 35% of open-market rent in an area with over 16,000 households waiting for housing.
If successful, it will be the largest number of social rented homes delivered to the London market in 2025. For an institutional owner of affordable housing to deliver this outcome would be incredible, a big win for L&G, our customers, and investors.”
What trends are shaping the future of private markets?
“A trend shaping the future of private markets is the new spotlight following the Mansion House Accord,” she says. “L&G has a huge opportunity to capitalise on pledges to invest in Private Markets across the UK.
Products that combine investment returns and positive social or environmental impact will thrive in this environment.”
What advice would you give to someone exploring private markets careers?
“Private markets can offer a very varied career. Find what drives you and where your interests lie. We have teams doing roles ranging from office asset management and residential development to digital infrastructure and clean power. The opportunities are vast.”
And when asked what makes working here special? The answer was simple for Ali: “Without a doubt, the people.”
If you’re driven by challenge, collaboration, and community, your next opportunity could be here.
Discover your career in Private Markets at L&G.
