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Sat October 19 2019

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US backers merge PegasusLife and Anthology

1 Oct US venture capitalist fund Oaktree Capital Management is bringing together some of its UK property development interests into a single company.

PegasusLife Group chief executive Mark Dickinson becomes Lifestory’s CEO
PegasusLife Group chief executive Mark Dickinson becomes Lifestory’s CEO

PegasusLife, Anthology and Renaissance Retirement are merging to create Lifestory.

PegasusLife specialises in developing homes for retired people, often in market towns or by the sea. It acquired later living house-builder Renaissance Retirement in 2018, doubling its portfolio.

Anthology, established in 2014, specialises in building blocks of flats in moderately less expensive parts of London, like Deptford and Wembley.

Oaktree Capital Management is majority owner of both Anthology and the PegasusLife Group. It also owns a slice of The Student Housing Company, The Serviced Apartment Company, Titlestone Property Finance, Countrywide and Countryside Properties. These, however, are being kept separate from Lifestory.

Lifestory will operate across three regions, creating developments under all three of the existing brands.

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PegasusLife Group chief executive Mark Dickinson becomes Lifestory’s CEO with three regional managing directors reporting to him. 

The south and southwest region will be led by Marc Evans, currently chief operating officer at PegasusLife Group; the north and midlands by Mike Gill, currently regional development director at PegasusLife Group; and the London and southeast region by Steve Bangs, currently managing director at Anthology.

Mark Dickinson said: “We have created Lifestory to bring together three strong customer facing brands that will deliver on our goal to transform customer experience when buying a new home, whatever stage of life our customers are at.”

He added: “The combined regional companies have been rebranded Lifestory, however we will continue to trade to our customers through our sub-brands. This flexible approach allows us to address the needs of different customers and communities across the country.

“The collective portfolio currently amounts to some 50 projects and with the launch of Lifestory, we have ambitious growth plans to double this within a three-year period. Our refreshed and united approach sets us in a strong and unique position to successfully achieve these targets.”

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