Transfield Holdings Sells its Shareholding in Campus Living Villages

Aug 14, 2014

Transfield Holdings is pleased to announce that it has sold its shareholding in Campus Living Villages (CLV).

Transfield Holdings took a 50% share in the student accommodation business in 2004 and acquired the remaining 50% in 2005. At this time, CLV had approximately 600 beds.

In 2007, Transfield Holdings established the Campus Living Villages Fund (the Fund) and introduced a select number of institutional investors.

Under Transfield Holdings’ management, CLV has grown its business both by acquisition and development. The Fund is now a global player in the field of on-campus student accommodation. Working closely with education partners at over 50 tertiary institutions, CLV owns, operates or is developing over 40,000 beds across Australia, New Zealand, the United Kingdom and the United States.

In June 2014, CLV Fund’s other investors (comprising five of Australia’s major industry superannuation funds) acquired Transfield’s investment in CLV as well as 100% of CLFM, the manager of the fund. The management of the fund is now internalised.

The internalisation followed a strategic review by Transfield Holdings of its investment portfolio and was in line with its intended investment horizon when it first entered the student accommodation market in 2004 and sponsored the CLV Fund in early 2007.

Transfield Holdings’ Executive Director, Guido Belgiorno-Nettis said: ‘Transfield Holdings is very proud of the work it has done to develop this asset to the point that it is now a global player in the field of on-campus student accommodation. The model is strong and tested, and in the years to come we have no doubt that CLV will continue to grow and prosper.’

Commenting on the internalisation, CLFM Chairman, Walter Carpenter said: ‘The Board is delighted to have completed this transaction. It demonstrates the ongoing support and commitment of our investor base. I would like to acknowledge Transfield Holdings’ vision, support and involvement in the management of the Fund since its inception in 2007. The business has been taken from an idea to a major global provider of student accommodation. CLV is now a leader in a number of markets in which it operates.’

Media Enquiries:
Stephen Bradley
+61 403 493 027

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