Blackstone mulling £4bn offer for student property giant
Private equity giant Blackstone is reportedly mulling a £4bn swoop on one of Britain’s largest student property developers.
IQ Student Accommodation has attracted the attention of Blackstone ahead of a potential initial public offering (IPO) next year, according to Sky News.
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The broadcaster has reported that Blackstone is one of several private equity firms interested in lodging a bid for IQSA.
City sources said that IQSA had drafted in four additional banks to look at options around a potential London IPO in 2020.
Blackstone is the world’s largest investor in property, with €200bn worth of real estate assets under management.
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IQSA is the UK’s largest provider of purpose-built student accommodation by value, owning 66 halls of residence with roughly 28,000 bedrooms.
Investment bank Goldman Sachs owns a 70 per cent stake in the firm, while the Wellcome Trust controls a 28 per cent holding.