Brandeaux finds the exit
A £1.1bn open-ended property fund that was forced to suspend redemptions last July is seeking liquidity through an initial public offering.
According to an intention to float document posted to the stock exchange this week, the Brandeaux Student Accommodation Fund wants to raise at least £400m from institutional investors under the less tainted ‘Liberty Living’ brand – the name of the Brandeaux subsidiary that manages the student digs.
The money will be used to repay frustrated shareholders in the existing open-ended vehicle, including many private investors …