Ownership should be material (i.e. Blackstone has agreed to buy IQ Student Accommodation from Goldman Sachs for £4.7bn, in the UK’s largest private real estate transaction. 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 sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. Would you like to read more? Before it's here, it's on the Bloomberg Terminal. Is there still time for investors to go bargain hunting and is the UK one of the places to look? 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 nowadays is more than those boots from the 90's, but the elements of back then still remain in our DNA. 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The deal is subject to regulatory approval. It also owns sites in Manchester, Leeds, Sheffield, Edinburgh and Birmingham. 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. 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. Where can investors look for shares that will benefit from a coronavirus recovery? One 'platinum' studio in London was yesterday going for £2,752 per month. Blackstone a été fond… 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. “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. 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. We do not write articles to promote products. Britain is the second-largest market for rooms outside North America, with about 140 universities attended by 2.4m undergraduates and post-graduates. 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. That has prompted a string of deals, including IQ competitor Unite's takeover of Liberty Living Group for £1.4billion last year. 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! This category is for portfolio companies of the private equity investment firm The Blackstone Group. 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. iQ's portfolio is concentrated in London - where it is the largest owner of student accommodation - and also Manchester, Leeds, Sheffield, Edinburgh and … They might be giants: Do US smaller companies still offer rich pickings? Opportunistic and core real estate funds rose 6.4% and 3.5% respectively. IQ was started in 2006, with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. Providing Financial Security. 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. 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. 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 owns 28,000 beds and has another 4,000 more in the pipeline. 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. IQ's portfolio is mainly in London, where it is the largest owner of student accommodation. 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 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 is one of the UK’s leading providers of Purpose Built Student Accommodation. 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Will the UK election result boost or sink the stock market? Blackstone plans to invest heavily in the business, which has a development pipeline of about 4,000 beds. 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. Published: 21:50 GMT, 26 February 2020 | Updated: 21:50 GMT, 26 February 2020. So what's YOUR 'e-scrap' worth? VICTORIA BISCHOFF: If NS&I axes cheques, what's to stop other banks from following suit? It's a risky business, but Hiscox offers reward in a crisis, MIDAS SHARE TIPS UPDATE: Storage giant Lok'nStore has key to profit from home moves, MIDAS SHARE TIPS: In these testing times, some stocks stand out... so splash out on water as it's an investment we can't do without, MIDAS SHARE TIPS UPDATE: Pennon is a water group that combines long-term resilience with reliable income, MIDAS SHARE TIPS: Canada-based gold miner Yamana hits a rich seam of dividends. Blackstone has a long track record in the sector, with iQ the third student-housing business the fund manager has invested in since 2006. 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. 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.'. Student housing has been a particularly popular bet, as students vastly outnumber the rooms available in purpose-built accommodation. Why not be the first to send us your thoughts, From phones to iPods and laptops, there's gold in them thar gadgets! or debate this issue live on our message boards. 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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. 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. Blackstone confirms £4.66bn iQ buy. Many have private bathrooms or kitchens, and facilities include gyms, games rooms, private cinemas and luxury community areas. 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. How to invest through a crisis like coronavirus and protect your money? US buyout firm Blackstone rumoured to be preparing a £4bn offer for IQ Student Accommodation. If you click on them we may earn a small commission. Student numbers are at an all-time high and are expected to climb. full control, majority ownership or significant minority ownership). 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 content is only available to registered users . Register for free to finish this article. WHAT WE DO We invest across alternative asset classes on behalf of pension funds and other leading institutions. 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. Inspiration. 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. We are no longer accepting comments on this article. or debate this issue live on our message boards. L'entreprise est basée à New York et possède des bureaux à Atlanta, Boston, Londres, Hambourg, Paris, Mumbai, Sydney et Hong Kong. What kind of rescue could trigger a stock market bounce back? By Jessica Newman 2020-05-15T15:24:00. MIDAS SHARE TIPS UPDATE: There's gold in them thar SCOTTISH hills with Scotgold! Blackstone is a leading global investment business investing capital on behalf of pension funds, large institutions and individuals. Save. 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. Blackstone has a long track record in the sector, with iQ the third student-housing business the fund manager has invested in since 2006. SRLN has around 753.4K shares in the U.S. ETF market. 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. Are 'cheap' bank shares an opportunity to profit or a value trap? Its swish private rooms are a far cry from those that most graduates would have lived in during their university days. 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 business merged with Goldman Sachs’s student housing company in 2016. Student housing is seen as particularly lucrative, with universities predicting an increase of around 171,000 attendees over the next four years. 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. Parent Organization . 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. Blackstone Group . Blackstone will buy student housing company iQ for £4.7bn. How much is this man to blame for the demise of Debenhams? Goldman Sachs' merchant banking unit and medical charity Wellcome Trust have agreed to sell the British student accommodation company iQ to Blackstone … Blackstone's takeover of IQ is expected to give it even more financial firepower to expand. 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. 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.'. Blackstone posted net income of $794.7 million, or $1.13 a share, for the third quarter. 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. Subscribe . 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; … 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. Private equity giant Blackstone has snapped up a student housing firm for £4.7billion in one of the UK's biggest ever property deals. 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. 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. 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. It includes a double bed, television, dining table and chairs, study desk, kitchenette with dishwasher, underfloor heating, wi-fi and bathroom. A substantial proportion of the 77 existing properties are also in need of refurbishment, according to a person with knowledge of the matter. You must be logged in to continue. Have a confidential tip for our reporters? Property firms have turned to Britain's budding build-to-rent sector as traditional home building and selling falters. ”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 iQ due to an expected surge in the student population over the next few years. 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 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. Subcategories. IQ Student Accommodations owns and … 242-year chain never recovered from brutal private equity era, Pharma's shot in the arm: Being outside the EU does not appear to be troubling British innovation just yet, says ALEX BRUMMER, How you can crack building a nest egg: From picking the perfect fund to managing risk, our guide to growing wealth, Why doing up houses can be a flipping good idea... but only if you get it right and as property prices soar, experts warn the market may overheat, Best December car discounts as sales kick off: Buyers can get up to 22% off a popular VW family saloon as dealers cut new models to recoup lockdown 2 losses, British motorists face confusion as European Commission delays decision on whether they need to carry a Green Card next year as insurance proof, Yorkshire Energy goes bust: Around 74,000 customers told to sit tight by Ofgem as it finds them a new supplier, MARKET REPORT: Vaccine hopes lift FTSE to its highest since June after UK becomes first country to approve Pfizer and Biontech jabs, Demand for 'Zoom casual' clothes to wear while video conferencing gives shirt maker Charles Tyrwhitt a lift, Countrywide spurns rival's £82m takeover bid: Struggling estate agent  moves a step closer to private equity ownership, High Street gloom deepens as women's fashion chain Bonmarche goes under, Wetherspoons boss Tim Martin sells £5m worth of shares after warning Government's tier system will keep 366 of his pubs shut, London Stock Exchange soars 9.6% amid rising hopes £20bn Refinitiv takeover will be approved. “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. It has prompted estate agent Knight Frank to recently value the sector at a staggering £50billion. Portfolio companies are those companies that are currently or have been previously owned or controlled by the private equity firm or its affiliate funds. Our mission is to create long-term value for our investors through the careful stewardship of their capital. 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. 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's shares were down 2.9% in afternoon trading, in line with the broader market. 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. Some links in this article may be affiliate links. … Learn More. The IQ sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. 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. This content is only available to registered users Though Blackstone is paying up for iQ, it is getting above-average growth. Summary. Big grocers hand back tax breaks: Tesco agrees to pay £585m then Morrisons says it will return £274m - but will others follow? 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. 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 … Blackstone Group Portfolio Companies. Subscribe and stay up-to-date . Financial Government Solutions Legal Reuters News Agency Risk Management Solutions Tax & Accounting Blog: Answers On Innovation @ Thomson Reuters 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. Overview.

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