A fund controlled by the Chinese government is set to buy a 40 per cent stake in the UK’s largest developer of student housing as Beijing continues to expand its portfolio of global infrastructure.
Gingko Tree Investment, a London-registered Chinese state-owned fund, is understood to be closing in on a £550m deal to buy Barclays’ stake in University Partnerships Programme.
The deal, if it goes ahead, would mark the latest Chinese investment in Britain’s infrastructure. In January, the country’s sovereign wealth fund bought a 9 per cent stake in Thames Water, while Beijing-backed energy groups are vying to acquire interests in the UK’s nuclear power projects.