The world’s largest property investor is weighing a £4bn takeover bid for a major British student housing provider as its owners plot a sale or stock market listing in 2020.
Sky News has learnt that Blackstone is exploring the prospect of submitting an indicative offer for IQ Student Accommodation ahead of a deadline later this month.
Blackstone, which has €200bn of real estate assets under management, is understood to be among a number of private equity firms and sovereign wealth funds in the early stages of planning bids for IQSA.
City sources said on Thursday that IQSA’s owners had appointed four additional banks to work on an initial public offering (IPO) in London next year.
Citi and HSBC have been hired as bookrunners, with Panmure Gordon and Peel Hunt being handed co-lead manager roles, they added.
Bankers at Goldman Sachs – which is IQSA’s controlling shareholder – are also working on the dual-track process, with Morgan Stanley and Eastdil Secured having been appointed several months…