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Embattled student property fund aborts £1bn IPO

Embattled student property fund aborts £1bn IPO

The Brandeaux Student Accommodation fund has backtracked on plans to float its portfolio.

The fund had said at the start of June that it would float its £1.1 billion portfolio in a bid to meet investors’ demand for redemptions.

It planned to float its portfolio of student accommodation by listing a subsidiary company Liberty Living, but last week announced that it would no longer press ahead with the initial public offering (IPO).

It told the market: ‘This decision has been reached due to adverse public market conditions and despite a positive response to the company and its underlying portfolio from prospective investors.’

'The outlook for Liberty Living's business remains very positive, with current reservation levels of 90% for the 2014/2015 academic year, and its operations remain unaffected by the decision not to proceed with an IPO.'

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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