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Troubled Brandeaux mulls £1bn IPO for student property assets
by Robert St George on Feb 21, 2014 at 14:14
The troubled £1 billion Brandeaux Student Accommodation fund is considering an initial public offering of its assets to pay back its investors.
‘The consideration of an initial public offering is at an early stage and there is no certainty at this time that this option will be pursued,’ Brandeaux said in a statement to the London Stock Exchange.
The group revealed in January that it would be winding up six of its funds, having suspended its entire range in July 2013 as the illiquidity of the portfolios meant Brandeaux struggled to meet redemptions.
The fund owns student properties in cities including Birmingham and Cardiff.
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