CONNOR, CLARK & LUNN INFRASTRUCTURE AND BESTINVER INFRA ACQUIRE MAJORITY STAKE IN NORTHSIDE STUDENT HOUSING

RICHARDSON, Texas, Jan. 13, 2025 /PRNewswire/ - Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) and Bestinver Infra (Bestinver) announced the acquisition of a majority interest in the Northside student housing project (Northside or the Project), a community of student housing facilities situated at the University of Texas at Dallas (UTD). The facilities were built in four phases between 2016 and 2021 and comprise approximately 1,200 units with the capacity to house over 2,500 students. Balfour Beatty, the international infrastructure group, is the current property manager and is retaining a minority equity ownership stake in the Project. CC&L Infrastructure and Bestinver acquired the entirety of the interest owned by funds managed by Tikehau Capital North America LLC d/b/a Tikehau Star Infra.

UTD is one of the highest ranked public universities in Texas, offering over 140 academic programs and hosting more than 50 research centres and institutes, with current enrolment totaling approximately 30,000 students. Northside operates under long-term land leases with the university, with an average of over 50 years remaining across each of the facilities.

"We are excited to further diversify our portfolio of infrastructure assets with the acquisition of this interest in Northside, which marks our first investment in the student housing sector," said Matt O'Brien, President of CC&L Infrastructure. "Northside provides an essential service to UTD's student community and supports a sizeable and growing enrolment base. We look forward to working with our partners and UTD in the successful operation of Northside for years to come."

"Our investment in Northside underscores our continued focus on high-quality, stable and resilient assets in North America, and is the first of several investments we will make in the region through our Fund II," said Francisco del Pozo, Head of Infrastructure Funds at Bestinver.

Agentis Capital served as financial advisor, White & Case LLP as legal counsel, Deloitte as accounting and tax advisor, and Infrata as technical advisor to CC&L Infrastructure and Bestinver.

About Connor, Clark & Lunn Infrastructure

CC&L Infrastructure invests in middle-market infrastructure assets with attractive risk-return characteristics, long lives and the potential to generate stable cash flows. To date, CC&L Infrastructure has accumulated over $6 billion in assets under management diversified across a variety of geographies, sectors and asset types, with nearly 100 underlying facilities across 35 individual investments. CC&L Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over CAD132 billion in assets.

About Connor, Clark & Lunn Financial Group Ltd.

Connor, Clark & Lunn Financial Group Ltd. (CC&L Financial Group) is an independently owned, multi-affiliate asset management firm that provides a broad range of traditional and alternative investment management solutions to institutional and individual investors. CC&L Financial Group brings significant scale and expertise to the delivery of non-investment management functions through the centralization of all operational and distribution functions, allowing talented investment managers to focus on what they do best. CC&L Financial Group's affiliates manage over $132 billion in assets. For more information, please visit cclgroup.com. 

Contact
Sonja Weiss
Vice President
Connor, Clark & Lunn Infrastructure
(437) 561-6184
sweiss@cclgroup.com

About Bestinver:
As part of Acciona Group, Bestinver has been managing investment funds for more than thirty-five years, and is the leading independent asset manager in Spain with more than 50,000 investors and over 6.8 billion euros under management. 

Bestinver created the division of Infrastructure funds with the objective of managing 1,500 million euros in alternative investments in the next five years. As part of this area of alternative investments, Bestinver incorporated Bestinver Infra FCR ("Bestinver Infra"), which was the first private equity fund from Bestinver to invest in infrastructure.

After the success of Bestinver Infra, Bestinver launched its second fund targeted at 350-400 million Euros to invest in global infrastructure assets ("Bestinver Infra II").

The funds invest in brownfield, greenfield, and yellowfield assets in the transportation, renewable energy, social, telecom and water sectors located in Europe, North America and selected Latin American countries. Additionally, Bestinver is focused on creating long-term value by integrating ESG criteria into the Bestinver's investment processes.

Contact
Jose Herrero Peña
Bestinver Gestión
jose.herrero@bestinver.es

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SOURCE Connor, Clark & Lunn Infrastructure