Goldman Sachs' merchant banking unit and medical charity Wellcome Trust have agreed to sell the British student accommodation company iQ to Blackstone … About half of the portfolio is located in London, with the remainder spread across cities and university towns that are home to the U.K.’s top academic institutions. The US company is buying London-based IQ from Goldman Sachs and the Wellcome Trust as demand for university accommodation surges in response to the growing number of students. How to invest for high income and avoid dividend traps, How to find shares with dividends that can grow: Troy Income and Growth manager, Blue Whale manager: 'We want companies that grow whatever happens', How biotechnology investors can profit from an ageing population and the future of medicine. On May 15, 2020, Jones Day clients Goldman Sachs Merchant Banking Division and the Wellcome Trust completed the sale of iQ Student Accommodation to Blackstone for £4.66 billion (US$5.73 billion), representing the largest ever private real estate transaction in the UK. The iQ deal follows media reports on Tuesday that Blackstone will use money from a $14 billion Saudi-backed infrastructure fund to invest in Britain. This is Money is part of the Daily Mail, Mail on Sunday & Metro media group, Get a discount code to save on your internet security, Discover a range of promo codes on kitchen appliances, Get great deals on existing and new plans, Upgrade your phones with these mobile deals, Click through to score Dell's discount code. Learn More. Providing Financial Security. We are no longer accepting comments on this article. The Blackstone Group Inc. sought the help of JLL and Rothschild as it considers the divestment of a logistics property portfolio worth more than A$700 million, which it assembled with boutique operator Fife Capital, The Australian reported. Blackstone nowadays is more than those boots from the 90's, but the elements of back then still remain in our DNA. Have a confidential tip for our reporters? Private equity giant Blackstone has snapped up a student housing firm for £4.7billion in one of the UK's biggest ever property deals. Blackstone is buying iQ due to an expected surge in the student population over the next few years. Number of Organizations 101; CB Rank (Hub) 28,332; Number of Founders 110; Average Founded Date Jul 9, 1995; Percentage Acquired 20%; Percentage of Public Organizations 13%; Number of For-Profit Companies 89; Top Investor Types Private Equity Firm, Venture Capital, Micro VC, Accelerator; … This content is only available to registered users . It also owns sites in Manchester, Leeds, Sheffield, Edinburgh and Birmingham. So what's YOUR 'e-scrap' worth? What next for Neil Woodford and his investors? This category is for portfolio companies of the private equity investment firm The Blackstone Group. Its swish private rooms are a far cry from those that most graduates would have lived in during their university days. From phones to iPods and laptops, there's gold in them thar gadgets! Fiat steps into an electric future: We drive the new 500 supermini that will be available only as an EV with a 199 mile range and £20,000 price tag, First-time buyer hunting hotspots revealed: Most popular places to search for a home are Dagenham, Luton and Wolverhampton. iQ is one of the UK’s leading providers of Purpose Built Student Accommodation. iQ was established in 2006, with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. Subscribe . It owns 28,000 beds and has another 4,000 more in the pipeline. Overview. Blackstone has agreed to buy the British student housing company IQ from Goldman Sachs in a £4.7bn deal. Blackstone a été fond… Before it's here, it's on the Bloomberg Terminal. Blackstone Group Inc. posted slightly higher net earnings for the third quarter as its focus on technology-related investments helped its private-equity portfolio rise above already buoyant broader markets. The iQ deal follows media reports on Tuesday that Blackstone will use money from a $14 billion Saudi-backed infrastructure fund to invest in Britain. VICTORIA BISCHOFF: If NS&I axes cheques, what's to stop other banks from following suit? iQ's portfolio is concentrated in London - where it is the largest owner of student accommodation - and also Manchester, Leeds, Sheffield, Edinburgh and … If you click on them we may earn a small commission. ”The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals,” said the companies in a statement. Register for free to finish this article. No comments have so far been submitted. Big grocers hand back tax breaks: Tesco agrees to pay £585m then Morrisons says it will return £274m - but will others follow? The deal is subject to regulatory approval. SPDR Blackstone / GSO Senior Loan ETF is a company in the U.S. stock market and it is a holding in 7 U.S.-traded ETFs. Blackstone is one of the world’s leading investment firms. L&G ECOMMERCE LOGISTICS FUND: Fund soars as we buy and sell more online, MANCHESTER AND LONDON INVESTMENT TRUST: Tech vehicle culls losers to build up its winners, ALLIANCE TRUST: Global investment firm set to hit its dividend target for the 54th year in a row, EDINBURGH INVESTMENT TRUST: Early days for new team, but they are stamping their mark and steadying performance, AXA FRAMLINGTON GLOBAL TECHNOLOGY: Fund 'can still grow' despite 250% returns, MURRAY INCOME TRUST: Set to double in size if it absorbs assets of rival Perpetual Income and Growth, MOBIUS INVESTMENT TRUST: The emerging market fund launched by one of investing's most famous names is up 47% in six months, GCP INFRASTRUCTURE INVESTMENTS: The green fund with renewable flow of returns, RATHBONE GLOBAL OPPORTUNITIES: The manager hunting for the world's best companies that have a 'secret sauce', JUPITER US SMALLER COMPANIES: Trust manager Robert Siddles is the value investor who seeks out born winners, BUSINESS LIVE: Retailer Bonmarche collapses, Tesco says it will repay £585m Covid help, Gardaworld ups its offer for G4S by £680m, Leon lifeline: Food chain proposes rescue deal, Only Argentina hit harder by Covid than UK - OECD, Klarna hires Silicon Valley guru as chairman, Horta-Osorio lands the top job at Credit Suisse, Last Christmas for 242-year-old Debenhams, Landlords set to challenge Caffe Nero rescue deal, Covid-hit events organiser Hyve buzzing again. James Seppala, head of Europe real estate at Blackstone, said: 'British higher education is globally renowned and we are delighted to invest meaningful capital to support IQ's further growth.'. This content is only available to registered users Number of bumper non-£1m Premium Bond prizes available to win is cut by two fifths this month - are they still worth keeping hold of? The designs are authentic and we deliberately keep them simple to maintain a focus on materials, details and finishing, creating premium products that match the fashion trends. Though Blackstone is paying up for iQ, it is getting above-average growth. … Back Neal Gandhi's tech revolution with The Panoply, MIDAS SHARE TIPS UPDATE: Annoying emails drive a profit surge at Dotdigital with customers including the NHS, MIDAS SHARE TIPS: It can pay to be a patriot! Rob Roger, CEO of iQ Student Accommodation, said: “I am delighted to be working with a partner of Blackstone’s calibre, as we continue to deliver our ambitious growth plans. Schroders British Opportunities Trust can help UK firms to grow and produce strong returns for investors, MIDAS SHARE TIPS UPDATE: Paving firm Marshalls builds for future of our outdoor spaces, MIDAS SHARE TIPS: Should you buy an insurer in the middle of a global catastrophe? Most of Blackstone’s investment is being made on behalf of its 10 billion-euro Blackstone Real Estate Partners Europe VI fund, said the person, who asked not to be identified because the information is private. Student housing is seen as particularly lucrative, with universities predicting an increase of around 171,000 attendees over the next four years. The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals. It’s also the latest in a series of substantial U.K. real estate investments for the alternative asset manager that include a large portfolio of railway arches and a low-income housing business. The IQ sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. Blackstone in exclusive talks to buy Prologis’ Platform portfolio By Mitchell Labiak Wed 16 September 2020 Blackstone is in exclusive talks to buy Prologis’ Platform portfolio for £480m in what would be the largest UK warehouse investment sale on record. Sale is largest-ever private real estate transaction in U.K. iQ Student Accommodation has over 28,000 beds across Britain, Blackstone Buys Goldman’s Student Dorm Business in $6 Billion Deal. Bank of America Corp., Citigroup Inc. and Savills Plc represented Blackstone in the acquisition. Is there still time for investors to go bargain hunting and is the UK one of the places to look? Summary. Blackstone is buying London-based IQ from Goldman Sachs and the Wellcome Trust as demand for university accommodation surges in response to the growing number of students. It includes a double bed, television, dining table and chairs, study desk, kitchenette with dishwasher, underfloor heating, wi-fi and bathroom. Portfolio companies are those companies that are currently or have been previously owned or controlled by the private equity firm or its affiliate funds. full control, majority ownership or significant minority ownership). Where can investors look for shares that will benefit from a coronavirus recovery? Published: 21:50 GMT, 26 February 2020 | Updated: 21:50 GMT, 26 February 2020. Blackstone Group Inc. agreed to buy the iQ Student Accommodation business from Goldman Sachs Group Inc. and the Wellcome Trust in the largest-ever private real estate deal in the U.K. Funds managed by Blackstone will pay 4.66 billion pounds ($6 billion) for the business, which owns and manages properties with more than 28,000 beds in the U.K., according to an emailed statement from Goldman Sachs. Subcategories. Blackstone est un fonds d'investissement américain créée en 1985 par Peter G. Peterson et Stephen A. Schwarzman, tous deux issus de l'ancienne banque d'affaires new-yorkaise Lehman Brothers. Britain is the second-largest market for rooms outside North America, with about 140 universities attended by 2.4m undergraduates and post-graduates. The firm partnered with Kirkland & Ellis to advise Blackstone on the deal, which has been described as the UK's largest private real estate transaction. The U.K. government said last year it aims to increase the number of international students studying in the U.K. by more than 30%. The IQ sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. Blackstone's shares were down 2.9% in afternoon trading, in line with the broader market. Some links in this article may be affiliate links. You must be logged in to continue. En juin 2007, l'entreprise a fait une entrée record dans la Bourse de Wall Street, toutefois en dessous des attentes, avec une capitalisation de 4 000 000 000 USD. Inspiration. Rob Roger, IQ chief executive, said: 'With student numbers in the UK at an all-time high, and growth set to continue in the coming years, there has never been a more exciting time to be a leading player in the sector.'. “This acquisition is a continuation of our strategy to invest in high-quality assets and businesses in the U.K. and testament to our long-term belief in the U.K.,” James Seppala, Blackstone’s head of real estate in Europe, said in the statement. Why not be the first to send us your thoughts, Opportunistic and core real estate funds rose 6.4% and 3.5% respectively. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we live and work. Goldman Sachs Merchant Banking Division (Goldman Sachs) and the Wellcome Trust (Wellcome) have agreed to sell iQ Student Accommodation (iQ) to Blackstone for £4.66 billion. According to the publication, the private equity giant may opt for a direct sale or choose to seed the over 20-property portfolio in a new trust. Blackstone's takeover of IQ is expected to give it even more financial firepower to expand. Financial Government Solutions Legal Reuters News Agency Risk Management Solutions Tax & Accounting Blog: Answers On Innovation @ Thomson Reuters Student housing has been a particularly popular bet, as students vastly outnumber the rooms available in purpose-built accommodation. Private-equity firms are betting heavily on U.K. real estate, which has lagged other western European markets since the Brexit referendum in mid-2016. Will the UK election result boost or sink the stock market? The Wellcome Trust, a charitable foundation established with the legacies from the pharmaceutical magnate Sir Henry Wellcome, was among the founding investors of iQ in 2006. or debate this issue live on our message boards. Parent Organization . Blackstone has a long track record in the sector, with iQ the third student-housing business the fund manager has invested in since 2006. iQ’s portfolio is concentrated in London - where it is the largest owner of student accommodation - and also Manchester, Leeds, Sheffield, Edinburgh and Birmingham. Subscribe and stay up-to-date . SRLN has around 753.4K shares in the U.S. ETF market.
L'oreal Sleek It, Miele Titan 300 Replacement Parts, Where Is Arnab Goswami Today, Bernat Blanket Twist High Tide, Javascript Module Pattern Vs Class, Fishing Coloring Page, Crown Granite And Marble, Types Of Periscope, Olympus Om-d E-m1 Mark Ii Price, My Dryer Only Works If I Hold The Start Button, Subject To Contract Template, Gardnerville Nv Horse Property For Sale, Precast Concrete Steps Prices,