Alignvest’s plan to roll up Canada’s off-campus student housing sector

While institutions pour billions of dollars into student-housing assets globally, a local private equity fund is looking to consolidate Canada’s fast-evolving sector. Last July, Alignvest Student Housing, an affiliate of Alignvest Management Corp, launched a fund to acquire purpose-built student accommodation. The evergreen vehicle has so far secured $125 million from family offices, institutions and wealthy investors, Managing Partner Jonathan Turnbull told PE Hub Canada. The money is capitalizing ASH's rapid deal pace, the result of an unexpectedly large supply of PBSA opportunities “coming out the woodwork,” primarily from local developers and investors, he said.

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