UK financial services group Legal & General has acquired a 20 per cent stake in local reverse mortgage start-up Household Capital.L&G is an insurer and asset manager with £1.2 trillion of assets under management.Household Capital was launched in 2017 with the backing of ME Bank, which provided the initial debt facility and is an equity holder. It has raised a total of $25 million of equity capital since it was launchedHousehold Capital has not disclosed the amount of lending it has done since launching.The company's chief executive Joshua Funder said L&G would provide valuable expertise in retirement markets.Funds raised from L&G will be used to hire staff, develop new products, boost the marketing budget and invest in technology.Funder said L&G's investment was a vote of confidence in the local reverse mortgage market, which has struggled in recent years and seen a number of providers drop out.