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UK developers PegasusLife, Anthology, Renaissance to merge

Property developers PegasusLife Ltd., Anthology London Ltd. and Renaissance Retirement plan to merge to create housebuilding company Lifestory.

The combined entity will be backed and funded by Oaktree Capital Management LP, which is the majority owner of both Anthology and PegasusLife.

Lifestory will operate across three regions in the U.K. and build property under the trio's existing brands.

PegasusLife CEO Mark Dickinson was appointed Lifestory's CEO, with three regional managing directors reporting to him. Marc Evans, COO of PegasusLife, will lead the South and Southwest region, while PegasusLife Regional Development Director Mike Gill will handle North and Midlands. Steve Bangs, Anthology's managing director, will handle London and Southeast region.

Lifestory plans to double its collective portfolio of about 50 projects within three years.