Fundraising - MARCH 22, 2017

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Mapletree raises $534m for student housing fund

by Andrea Waitrovich

Mapletree Investments Pte. has raised approximately $534 million for a student housing–focused private trust, the first such vehicle in Singapore.

The fund, Mapletree Global Student Accommodation Private Trust, holds about $1.3 billion in student housing assets in the United Kingdom and the United States, the two largest student accommodation markets in the world. MGSA P-Trust raised £195 million ($243.2 million) for a portfolio in the United Kingdom and $291 million for a U.S. portfolio.

Mapletree will retain a 35 percent stake in MGSA P-Trust, within the range of stakes it has taken in its other sponsored funds and trusts. Major participating investors include The Great Eastern Life Assurance Co. Ltd., as well as DBS Bank and UBS AG, which are investing in the trust on behalf of high-net-worth clients.

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