Alternative asset manager specialising in real estate investment solutions – Cain International – and Israeli pension and provident funds group – Menora Mivtachim – have announced the expansion of their strategic partnership.
The partnership will see Menora Mivtachim commit follow-on capital to accelerate the growth of Cain’s PBSA equity platform in the UK. Building on the strength of their existing partnership, this new commitment will drive the development of high-quality PBSA developments and strategic acquisitions across key university cities.
“As a strategic decision, we decided to enter into the PBSA market which has continuous growth in light of an imbalance between demand and supply. Adding another asset to the portfolio is an opportunity to strengthen our established partnership with Cain and expand our presence in a market where we see significant potential.
“We look forward to building on the strong momentum we’ve developed together.”
Sheery Kishon, Head Real Estate Acquisitions, Menora Mivtachim
The platform already includes a portfolio of assets strategically located in major Russell Group cities such as Manchester, Leeds, York, Liverpool and Nottingham, developed in collaboration with Olympian Homes and Fusion Students.
Most recently, the firm expanded its footprint with the acquisition of St James House in Bristol, bringing the total gross development value (GDV) of the portfolio to over £800m.
“We are delighted to take another step in expanding our partnership with Menora, whose continued support will open up new opportunities as we build a platform of high-quality, amenity-rich PBSA developments that reinforce the UK’s status as a leading destination for global education.”
Oliver Cummings, Head of PBSA Europe, Cain International commented
Menora Mivtachim has over $90bn in assets under management. Over the years, Menora Mivtachim has serviced around two million customers.
