Pension fund buys UPP
13 September 2012
A 60% share in university accommodation contractor UPP has been bought by one of Europe’s largest pension funds.
Dutch pension fund administrator PGGM’s Infrastructure Fund 2010 has acquired a 60% stake in the firm from Barclays Infrastructure Funds Management for an undisclosed fee.“[UPP] has an excellent market position and we are supportive of its strategy,” said PGGM head of infrastructure Henk Huizing. “In addition, we support its partnership model with the public sector and look forward to long term mutual beneficial relationships.”
He added that the deal complements the fund’s focus on investing in “stable social infrastructure sectors”.
The university accommodation sector has retained strong activity over recent years, as universities compete to attract more students.
