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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 plans to invest heavily in the business, which has a development pipeline of about 4,000 beds. Student housing has been a particularly popular bet, as students vastly outnumber the rooms available in purpose-built accommodation. Is there still time for investors to go bargain hunting and is the UK one of the places to look? Goldman Sachs' merchant banking unit and medical charity Wellcome Trust have agreed to sell the British student accommodation company iQ to Blackstone … 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. 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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. L'entreprise est basée à New York et possède des bureaux à Atlanta, Boston, Londres, Hambourg, Paris, Mumbai, Sydney et Hong Kong. The deal could pave the way for an initial public offering of the business at some stage in the next decade, when the fund nears the end of its life, the person said. 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. Blackstone has a long track record in the sector, with iQ the third student-housing business the fund manager has invested in since 2006. 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. Student numbers are at an all-time high and are expected to climb. It owns 28,000 beds and has another 4,000 more in the pipeline. WHAT WE DO We invest across alternative asset classes on behalf of pension funds and other leading institutions. 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. 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%. 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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. Student housing is seen as particularly lucrative, with universities predicting an increase of around 171,000 attendees over the next four years. Blackstone posted net income of $794.7 million, or $1.13 a share, for the third quarter. Relaxing of American gambling laws helps bookie William Hill... ALEX BRUMMER: The low valuation placed on US insurance... Three of Britain's biggest finance firms to axe more than... Big business sounds alarm over virus: Diageo takes a £200m... Easy and most popular DIY investing platform, Max £30 investment trust and shares ISA fee, Online investment advice on Isas and Sipps, > Compare the best investing platform for you. Learn More. Published: 21:50 GMT, 26 February 2020 | Updated: 21:50 GMT, 26 February 2020. MIDAS SHARE TIPS UPDATE: There's gold in them thar SCOTTISH hills with Scotgold! Have a confidential tip for our reporters? Blackstone a été fond… Inspiration. This content is only available to registered users How to invest to beat inflation: A global fund manager's tips, MIDAS SHARE TIPS: Back Greensleeves care homes bond, and follow in the footsteps of a very famous supporter - HM Queen, MIDAS SHARE TIPS UPDATE: Cream cake shops Cake Box serve up a lockdown profit treat, MIDAS SHARE TIPS: Are you looking to get rich and help people? Discover Thomson Reuters. Blackstone's takeover of IQ is expected to give it even more financial firepower to expand. Before it's here, it's on the Bloomberg Terminal. Many have private bathrooms or kitchens, and facilities include gyms, games rooms, private cinemas and luxury community areas. Blackstone confirms £4.66bn iQ buy. Will the UK election result boost or sink the stock market? Subscribe . IQ's portfolio is mainly in London, where it is the largest owner of student accommodation. 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. Where can investors look for shares that will benefit from a coronavirus recovery? What kind of rescue could trigger a stock market bounce back? This content is only available to registered users . US buyout firm Blackstone rumoured to be preparing a £4bn offer for IQ Student Accommodation. Big grocers hand back tax breaks: Tesco agrees to pay £585m then Morrisons says it will return £274m - but will others follow? Updates with detail on deal starting in sixth paragraph. The business merged with Goldman Sachs’s student housing company in 2016. The IQ sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. 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. By Jessica Newman 2020-05-15T15:24:00. U.K. Clears Pfizer Covid Vaccine for First Shots Next Week, U.S. Covid Cases Found as Early as December 2019, Says Study, While OPEC+ Fights, Mexico Wins Over $2 Billion on Oil Hedge, Stocks Post Another Record High; Oil Halts Slide: Markets Wrap, U.S. Hospital Use Surges; California Case Record: Virus Update. Blackstone is buying iQ due to an expected surge in the student population over the next few years. iQ was established in 2006, with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. The University of Edinburgh, where Blackstone is acquiring student accomodation US-based private equity group Blackstone has agreed to buy IQ Student Accommodation, which is … Property firms have turned to Britain's budding build-to-rent sector as traditional home building and selling falters. 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. 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? 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. It has prompted estate agent Knight Frank to recently value the sector at a staggering £50billion. Its swish private rooms are a far cry from those that most graduates would have lived in during their university days. Blackstone said its private equity portfolio appreciated 12.2% in the quarter, compared with an 8.5% rise in the benchmark S&P 500 stock index over the same period. Summary. We do not write articles to promote products. Some links in this article may be affiliate links. Blackstone is one of the world’s leading investment firms. We are no longer accepting comments on this article. Private equity giant Blackstone has snapped up a student housing firm for £4.7billion in one of the UK's biggest ever property deals. How to invest through a crisis like coronavirus and protect your money? The takeover is thought to be the second-largest property deal ever in the UK, after the £5.8billion takeover of Songbird Estates in 2014, Goldman Sachs said. iQ's portfolio is concentrated in London - where it is the largest owner of student accommodation - and also Manchester, Leeds, Sheffield, Edinburgh and … Blackstone has struck the largest-ever private property deal in the UK by agreeing to acquire the UK student accommodation firm iQ in a £4.7bn deal. “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. The deal is subject to regulatory approval. It also owns sites in Manchester, Leeds, Sheffield, Edinburgh and Birmingham. 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. SRLN has around 753.4K shares in the U.S. ETF market. Why not be the first to send us your thoughts, Blackstone's shares were down 2.9% in afternoon trading, in line with the broader market. 05 mars 2020 International law firm Gowling WLG has advised Blackstone, the private equity firm, on the acquisition of UK student accommodation company IQ from Goldman Sachs. 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. or debate this issue live on our message boards. No comments have so far been submitted. 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. 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; … One 'platinum' studio in London was yesterday going for £2,752 per month. 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. ”The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals,” said the companies in a statement. 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. You must be logged in to continue. Goldman Sachs International, Morgan Stanley and Eastdil Secured advised Goldman Sachs’s merchant banking division and the Wellcome Trust on the sale, according to the statement. or debate this issue live on our message boards. ASK TONY: I paid off Vodafone's debt collectors but they didn't restore my service - now they're demanding another £1,123, The great fake job scam: As 25,000 High Street workers face the axe, our troubling investigation exposes the most callous fraud of all, Fraud victims lose £14.6bn to ruthless pension scams: Latest figures show scale of the crime has been grossly underestimated, Controversial payment firm Klarna hires Silicon Valley guru Sir Michael Moritz as its chairman. The concentration on top universities, particularly in London, means many of iQ’s biggest tenants are overseas students, with just a third coming from the U.K. About half existing residents come from outside the European Union. 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. 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? Opportunistic and core real estate funds rose 6.4% and 3.5% respectively. Blackstone has agreed to buy the British student housing company IQ from Goldman Sachs in a £4.7bn deal. 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. Parent Organization . Scottish Mortgage's Tom Slater on how the growth star investments, 'It's a vast area of change': We meet a food fund manager. 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. It includes a double bed, television, dining table and chairs, study desk, kitchenette with dishwasher, underfloor heating, wi-fi and bathroom. 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. What next for Neil Woodford and his investors? 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.'. 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. Financial Government Solutions Legal Reuters News Agency Risk Management Solutions Tax & Accounting Blog: Answers On Innovation @ Thomson Reuters 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. 26th February 2020, London – Goldman Sachs Merchant Banking Division (“Goldman Sachs”) and the Wellcome Trust (“Wellcome”) today announced the sale of iQ Student Accommodation (“iQ”) to Blackstone for £4.66 billion. That helps us fund This Is Money, and keep it free to use. In the biggest private real estate deal seen in the UK Goldman Sachs and the Wellcome Trust have agreed to sell iQ, which owns and operates 67 student housing blocks with 28,000 beds, to the US private equity giant. Ownership should be material (i.e. So what's YOUR 'e-scrap' worth? This category is for portfolio companies of the private equity investment firm The Blackstone Group. Portfolio companies are those companies that are currently or have been previously owned or controlled by the private equity firm or its affiliate funds. 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.'. From phones to iPods and laptops, there's gold in them thar gadgets! Britain is the second-largest market for rooms outside North America, with about 140 universities attended by 2.4m undergraduates and post-graduates. Blackstone nowadays is more than those boots from the 90's, but the elements of back then still remain in our DNA. 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 transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals. A substantial proportion of the 77 existing properties are also in need of refurbishment, according to a person with knowledge of the matter. By Daily Mail City & Finance Reporter. iQ’s portfolio is concentrated in London - where it is the largest owner of student accommodation - and also Manchester, Leeds, Sheffield, Edinburgh and Birmingham. Blackstone Group . Overview. That has prompted a string of deals, including IQ competitor Unite's takeover of Liberty Living Group for £1.4billion last year. Blackstone will buy student housing company iQ for £4.7bn. Are 'cheap' bank shares an opportunity to profit or a value trap? VICTORIA BISCHOFF: If NS&I axes cheques, what's to stop other banks from following suit? Save. 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. Blackstone Group Portfolio Companies. 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! Would you like to read more? NS&I must listen to its loyal savers: It has delayed plans to scrap Premium Bond cheques... now its customers demand it ditches the idea for good. 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. 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. Blackstone is a leading global investment business investing capital on behalf of pension funds, large institutions and individuals. 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. Blackstone has agreed to buy IQ Student Accommodation from Goldman Sachs for £4.7bn, in the UK’s largest private real estate transaction. Though Blackstone is paying up for iQ, it is getting above-average growth. Bank of America Corp., Citigroup Inc. and Savills Plc represented Blackstone in the acquisition. Goldman Sachs Merchant Banking Division and the Wellcome Trust have completed the £4.66bn sale of iQ Student Accommodation company. IQ was started in 2006, with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. IQ Student Accommodations owns and … The IQ sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. 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