Coral buys into Round Hill’s Nido

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.