Scion Venture Kicks in Roughly $1.6 Billion in U.S. Student Housing
The housing venture Scion Student Communities LP, mostly backed by wealth fund and pension capital, acquired three U.S. student housing portfolios for approximately US$1.6 billion. The venture is comprised of Canada Pension Plan Investment Board (CPPIB), Singapore’s GIC Private Limited and The Scion Group LLC. CPPIB and GIC each own a 45% interest in the three portfolios and Scion Group owns the remaining 10%. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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