Summary:
- Canada Pension Plan Investment Board subsidiary CPPIB Holdco reduced its stake in Bristol-based student accommodation provider Unite from over 14% to just over 7%, ending its right to board representation and resulting in the departure of its nominated director, Thomas Jackson.
- CPPIB’s relationship with Unite began in 2019 through a £1.4bn acquisition of Liberty Living’s UK student housing arm, which added 24,000 beds across 17 cities and secured CPPIB a 20% equity stake and board governance rights while holding above 10%.
- Unite, the UK’s largest owner and manager of student accommodation, operates over 200 properties housing 72,000 students and partners with more than 60 universities, reflecting its significant scale and long-standing market presence since launching in Bristol 34 years ago.
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