Warburg Pincus Buys HDFC’s Stake In Student Housing Startup Good Host Spaces
Baskin Lake Investment Ltd, an affiliate of top global private equity Warburg Pincus, has become a significant shareholder in Good Host Spaces, one of India’s leading operators of on-campus student housing facilities.
Baskin Lake Investments has acquired HDFC Ltd’s 24.48% stake along with a primary investment in the company.
Existing shareholder Goldman Sachs and Baskin Lake will also invest additional capital to fund Good Host Spaces’ future growth objectives.
Started by Nimesh Grover and Stanley D’britto in 2017, Good Host Spaces claims to be India’s largest independent purpose-built student housing campus.
As per the company, it has a presence in five cities, operating approximately 18,000 beds at highly ranked universities such as Manipal University, OP Jindal Global University and Shoolini University.
Speaking on the investment from Warburg Pincus, Nimesh Grover, CEO at Good Host, said,
“We are delighted to welcome Warburg Pincus as a new investor in the company. We look forward to working closely with them and leveraging their global experience in creating market-leading real estate platforms. Good Host is confident that with Goldman Sachs and Warburg Pincus as our shareholders, our company will further strengthen its leadership position in this space and bring many more partner universities and students into our platform.”
Good Host Spaces believes that the new National Education Policy will further improve the global competitiveness of Indian universities, which in turn will shift the focus towards high-quality, professionally managed student housing facilities.
The company is also in conversations with several other prestigious institutes in India to expand its portfolio to 50,000 beds in the near term.
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