Simmons & Simmons is advising J.P. Morgan Cazenove and Numis as Joint Bookrunners in connection with the placing by The Unite Group plc (“Unite” or the “Company”) of new ordinary shares in the Company with institutional investors to raise approximately £115m announced on 16 April 2015 (the “Placing”).

Half of the net proceeds of the Placing will be used to acquire new units in The Unite Student Accommodation Fund (currently undergoing an equity raise of up to £275m) which will allow Unite to maintain its ownership stake in the fund at approximately 22%. The rest of the net proceeds will be used to fund Unite’s own acquisitions, which are to be selected from an extensive pipeline of active opportunities in select key university towns and cities.

Simmons & Simmons previously advised J.P. Morgan Cazenove, Numis and Jefferies on a £100m firm placing and placing and open offer by Unite in March 2014 (click here to read more).

The Simmons & Simmons team is led by corporate partner Chris Horton and US securities laws partner Charles Hawes, and includes corporate associate Edward Nisbet, US securities laws associate Jim McInerney and corporate trainee Montanna Cheng. Partner Nick Cronkshaw and associate Laura Allwright are providing specialist tax advice.