CPP Investments doubles its allocation to European student housing joint venture with Round Hill Capital

LONDON, Aug. 10, 2022 /CNW/ - Canada Pension Plan Investment Board ("CPP Investments") has today announced a further equity allocation to the existing joint venture with Round Hill Capital, Round Hill European Student Accommodation Partnership (the "JV" or "RHESA"). The JV, formed in October 2021, invests in high-quality purpose-built student accommodation ("PBSA") in major cities across Europe and is one of the largest European student accommodation partnerships.

CPP Investments has allocated an additional €475 million (C$656 million) to the JV, furthering the initial allocation of €475 million. Round Hill Capital is a leading global specialist real estate investor, developer and manager. Following this allocation increase, the JV is capitalised to target a diverse portfolio of over €2 billion in assets.

Since establishment, RHESA has secured over 5,000 beds across Europe, with sites acquired in: Maastricht and Leiden (Netherlands), Lisbon and Porto (Portugal) and Madrid, Seville and Valencia (Spain). The assets will primarily be operated by Nido Student, a market-leading student housing brand owned by Round Hill Capital.

"We continue to see strong and compelling opportunities for student housing in Europe – as both domestic and international student populations continue to grow and seek high-quality accommodation, which is in short supply across many European cities," said Tom Jackson, Managing Director, Head of Real Estate U.K., CPP Investments. "Round Hill Capital, together with the expertise of Nido Student, have been strong partners since the establishment of the joint venture. Furthering our allocation to RHESA will allow us to continue to drive long-term value for CPP contributors and beneficiaries through this thematic investment strategy."

About Canada Pension Plan Investment Board

Canada Pension Plan Investment Board (CPP Investments) is a professional investment management organization that manages the fund in the best interest of the more than 21 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At March 31, 2022, the Fund totalled C$539 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.

SOURCE Canada Pension Plan Investment Board

CPP Investments, Steve McCool, Tel: [phone], [email protected]