blackstone iq portfolio
Register for free to finish this article. 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. Parent Organization . The IQ sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. Blackstone will buy student housing company iQ for £4.7bn. 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 confirms £4.66bn iQ buy. That helps us fund This Is Money, and keep it free to use. 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. IQ Student Accommodations owns and … Would you like to read more? Goldman Sachs' merchant banking unit and medical charity Wellcome Trust have agreed to sell the British student accommodation company iQ to Blackstone … 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. 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. Financial Government Solutions Legal Reuters News Agency Risk Management Solutions Tax & Accounting Blog: Answers On Innovation @ Thomson Reuters Blackstone has agreed to buy IQ Student Accommodation from Goldman Sachs for £4.7bn, in the UK’s largest private real estate transaction. Providing Financial Security. 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. iQ's portfolio is concentrated in London - where it is the largest owner of student accommodation - and also Manchester, Leeds, Sheffield, Edinburgh and Birmingham. We do not allow any commercial relationship to affect our editorial independence. Ownership should be material (i.e. Britain is the second-largest market for rooms outside North America, with about 140 universities attended by 2.4m undergraduates and post-graduates. By Jessica Newman 2020-05-15T15:24:00. Some links in this article may be affiliate links. How much is this man to blame for the demise of Debenhams? Scottish Mortgage's Tom Slater on how the growth star investments, 'It's a vast area of change': We meet a food fund manager. 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. Save. 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 Group Portfolio Companies. Discover Thomson Reuters. Are 'cheap' bank shares an opportunity to profit or a value trap? Blackstone's shares were down 2.9% in afternoon trading, in line with the broader market. If you click on them we may earn a small commission. 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 plans to invest heavily in the business, which has a development pipeline of about 4,000 beds. Blackstone is buying iQ due to an expected surge in the student population over the next few years. The IQ sale comes after Blackstone said it would use cash from a £11billion Saudi-backed infrastructure fund to invest in Britain. 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 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. Blackstone Group . Big grocers hand back tax breaks: Tesco agrees to pay £585m then Morrisons says it will return £274m - but will others follow? Blackstone is one of the world’s leading investment firms. It also owns sites in Manchester, Leeds, Sheffield, Edinburgh and Birmingham. How to invest through a crisis like coronavirus and protect your money? 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. 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. Blackstone has a long track record in the sector, with iQ the third student-housing business the fund manager has invested in since 2006. 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! 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 . Many have private bathrooms or kitchens, and facilities include gyms, games rooms, private cinemas and luxury community areas. or debate this issue live on our message boards. 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 deal is subject to regulatory approval. 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. Where can investors look for shares that will benefit from a coronavirus recovery? “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. Subscribe . 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. A substantial proportion of the 77 existing properties are also in need of refurbishment, according to a person with knowledge of the matter. … It owns 28,000 beds and has another 4,000 more in the pipeline. This content is only available to registered users iQ was established in 2006, with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. 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. Blackstone nowadays is more than those boots from the 90's, but the elements of back then still remain in our DNA. 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.'. SRLN has around 753.4K shares in the U.S. ETF market. We are no longer accepting comments on this article. Portfolio companies are those companies that are currently or have been previously owned or controlled by the private equity firm or its affiliate funds. 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. You must be logged in to continue. 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. VICTORIA BISCHOFF: If NS&I axes cheques, what's to stop other banks from following suit? Blackstone is a leading global investment business investing capital on behalf of pension funds, large institutions and individuals. IQ was started in 2006, with Wellcome as one of the founding investors, and merged with Goldman Sachs' student housing business in 2016. Student housing is seen as particularly lucrative, with universities predicting an increase of around 171,000 attendees over the next four years. 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. 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. So what's YOUR 'e-scrap' worth? 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. Goldman Sachs Merchant Banking Division and the Wellcome Trust have completed the £4.66bn sale of iQ Student Accommodation company. This category is for portfolio companies of the private equity investment firm The Blackstone Group. One 'platinum' studio in London was yesterday going for £2,752 per month. 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 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. They might be giants: Do US smaller companies still offer rich pickings? 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. What next for Neil Woodford and his investors? Blackstone posted net income of $794.7 million, or $1.13 a share, for the third quarter. Blackstone has a long track record in the sector, with iQ the third student-housing business the fund manager has invested in since 2006. 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. Student housing has been a particularly popular bet, as students vastly outnumber the rooms available in purpose-built accommodation. Learn More. The business merged with Goldman Sachs’s student housing company in 2016. No comments have so far been submitted. Updates with detail on deal starting in sixth paragraph. Student numbers are at an all-time high and are expected to climb. 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. “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. From phones to iPods and laptops, there's gold in them thar gadgets! 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? Opportunistic and core real estate funds rose 6.4% and 3.5% respectively. 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 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. ”The transaction is the largest ever private real estate transaction in the UK and subject to regulatory approvals,” said the companies in a statement. Its swish private rooms are a far cry from those that most graduates would have lived in during their university days. 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