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. 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. Financial Government Solutions Legal Reuters News Agency Risk Management Solutions Tax & Accounting Blog: Answers On Innovation @ Thomson Reuters 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. We do not allow any commercial relationship to affect our editorial independence. 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By Daily Mail City & Finance Reporter. How much is this man to blame for the demise of Debenhams? Before it's here, it's on the Bloomberg Terminal. L'entreprise est basée à New York et possède des bureaux à Atlanta, Boston, Londres, Hambourg, Paris, Mumbai, Sydney et Hong Kong. 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. or debate this issue live on our message boards. Have a confidential tip for our reporters? Subcategories. “I am delighted to be working with a partner of Blackstone’s calibre, as we continue to deliver our ambitious growth plans,” said Rob Roger, chief executive of iQ Student Accommodation. Blackstone will buy student housing company iQ for £4.7bn. A substantial proportion of the 77 existing properties are also in need of refurbishment, according to a person with knowledge of the matter. Published: 21:50 GMT, 26 February 2020 | Updated: 21:50 GMT, 26 February 2020. iQ is one of the UK’s leading providers of Purpose Built Student Accommodation. Opportunistic and core real estate funds rose 6.4% and 3.5% respectively. … 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. The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals. 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. Blackstone is a leading global investment business investing capital on behalf of pension funds, large institutions and individuals. Private equity giant Blackstone has snapped up a student housing firm for £4.7billion in one of the UK's biggest ever property deals. 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; … Blackstone has a long track record in the sector, with iQ the third student-housing business the fund manager has invested in since 2006. Parent Organization . Big grocers hand back tax breaks: Tesco agrees to pay £585m then Morrisons says it will return £274m - but will others follow? 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. 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. Goldman Sachs Merchant Banking Division and the Wellcome Trust have completed the £4.66bn sale of iQ Student Accommodation company. iQ’s portfolio is concentrated in London - where it is the largest owner of student accommodation - and also Manchester, Leeds, Sheffield, Edinburgh and Birmingham. So what's YOUR 'e-scrap' worth? iQ's portfolio is concentrated in London - where it is the largest owner of student accommodation - and also Manchester, Leeds, Sheffield, Edinburgh and Birmingham. This content is only available to registered users Discover Thomson Reuters. Updates with detail on deal starting in sixth paragraph. IQ's portfolio is mainly in London, where it is the largest owner of student accommodation. Blackstone nowadays is more than those boots from the 90's, but the elements of back then still remain in our DNA. 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. 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? 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. US buyout firm Blackstone rumoured to be preparing a £4bn offer for IQ Student Accommodation. Subscribe and stay up-to-date . How to invest through a crisis like coronavirus and protect your money? The deal is subject to regulatory approval. Would you like to read more? 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. 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. Summary. Blackstone posted net income of $794.7 million, or $1.13 a share, for the third quarter. IQ Student Accommodations owns and … Some links in this article may be affiliate links. Providing Financial Security. If you click on them we may earn a small commission. Bank of America Corp., Citigroup Inc. and Savills Plc represented Blackstone in the acquisition. Are 'cheap' bank shares an opportunity to profit or a value trap? We are no longer accepting comments on this article. Overview. 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. iQ was established in 2006, with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. Many have private bathrooms or kitchens, and facilities include gyms, games rooms, private cinemas and luxury community areas. Where can investors look for shares that will benefit from a coronavirus recovery? This category is for portfolio companies of the private equity investment firm The Blackstone Group. This content is only available to registered users . 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. Is there still time for investors to go bargain hunting and is the UK one of the places to look? 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. 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. Blackstone Group . It also owns sites in Manchester, Leeds, Sheffield, Edinburgh and Birmingham. How to invest in the new era of falling interest rates, How to profit from green energy, reducing waste and boosting recycling, How to get a near 6% yield by tapping into Asia's dividends: Henderson Far East Income's manager, The UK is cheap and shares could bounce back: Fund managers' tips on picking funds and trusts, How to find the best British companies to invest in and not worry about Brexit. That helps us fund This Is Money, and keep it free to use. Goldman Sachs' merchant banking unit and medical charity Wellcome Trust have agreed to sell the British student accommodation company iQ to Blackstone … 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. It has prompted estate agent Knight Frank to recently value the sector at a staggering £50billion. or debate this issue live on our message boards. 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. “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. 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. It includes a double bed, television, dining table and chairs, study desk, kitchenette with dishwasher, underfloor heating, wi-fi and bathroom. 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. Blackstone a été fond… The IQ sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. IQ was started in 2006, with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. 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. WHAT WE DO We invest across alternative asset classes on behalf of pension funds and other leading institutions. Student numbers are at an all-time high and are expected to climb. 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. 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. Our mission is to create long-term value for our investors through the careful stewardship of their capital. 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? Student housing has been a particularly popular bet, as students vastly outnumber the rooms available in purpose-built accommodation. Blackstone confirms £4.66bn iQ buy. 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. iQ's portfolio is concentrated in London - where it is the largest owner of student accommodation - and also Manchester, Leeds, Sheffield, Edinburgh and … 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. 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 … Its swish private rooms are a far cry from those that most graduates would have lived in during their university days. The business merged with Goldman Sachs’s student housing company in 2016. Blackstone is one of the world’s leading investment firms. 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. We do not write articles to promote products. Register for free to finish this article. No comments have so far been submitted. 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.'. Popular bet, as students vastly outnumber the rooms available in purpose-built Accommodation updates with detail on deal starting sixth. The fund manager has invested in since 2006 this is Money, facilities. Next four years to an expected surge in the business, which has lagged western... The U.K. government said last year this content is only available to registered users blackstone Group portfolio companies the! 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