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Brandeaux eyes IPO for suspended Student Accommodation fund

Property investment house Brandeaux could launch an initial public offering for its stricken £1bn Brandeaux Student Accommodation fund.

The open-ended fund was suspended last July, along with the rest of Brandeaux’s range, following higher redemption requests and problems with market liquidity. 

The firm is currently examining ways to create liquidity for investors.

An update to the Irish Stock Exchange says: “Further to recent press speculation, Brandeaux Student Accommodation Fund (Sterling) Limited has confirmed that it is continuing to actively review various options with the aim of creating liquidity for its existing shareholders.

“The options being considered include a potential initial public offering of the assets of the fund. 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.”

The news follows last month’s announcement that Brandeaux could wind up six of its suspended funds in order to release around £173m of liquidity. At the time, the firm also said it was examining various ways of creating liquidity for the Student Accommodation fund.

Charles Stanley Direct head of investment research Ben Yearsley says: “With illiquid investments such as specialist areas of property, an investment trust structure is probably a better format than an open-ended fund.”

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  1. We are investigating possible opportunities arising from this frozen fund to unlock liquidity and would be interested in reviewing any documentation held by investors. In the first instance please contact brandeaux@insolvencyventures.uk

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