Coral Student Portfolio, a £110m offshore mutual fund, has made an investment in Round Hill’s acquisition of Nido student housing.
Coral has invested equity and made a bridging loan to Round Hill Capital, a private equity firm that syndicates the equity in its acquisitions.
The Nido portfolio was sold to Round Hill by Blackstone Group for £415m in May and comprises three London buildings with 22,526 beds.
Round Hill clinched the deal with £266m of senior debt from M&G Investments and £80m of mezzanine finance from Och Ziff.
Coral’s typical investment is £10m-£20m.