Cain International

3rd June 2024

Cain appoints Oliver Cummings to lead European PBSA equity strategy

London, 3 June 2024: Cain International (‘Cain’), the privately held investment firm, has today welcomed Oliver Cummings, who has joined as Managing Director, Head of PBSA, Europe. Oliver will lead Cain’s PBSA equity strategy as the firm aims to build a portfolio of over 10,000 beds across Europe in the next five years.

Oliver brings nearly 15 years of PBSA investment experience. Throughout his career, he has managed the acquisition, development, financing, delivery, asset management, and disposal of over 16,000 student beds, with a combined market value of approximately €1.5 billion, across the UK, Spain, and Portugal. Additionally, he played a key role in establishing an independent operating platform and brand to enhance the performance and outcomes of portfolio assets.

Oliver most recently served as an Investment Officer and Head of European Student Housing Asset Management at W.P. Carey on behalf of two managed funds. Prior to this, he specialised in PBSA at Dartmoor Capital Management.

This appointment follows a period of growth for Cain’s real estate equity and credit portfolio within the living sector, one of its core specialisms, which includes a £500 million PBSA forward-funding deal in 2023 delivering 2,389 student beds across Russell Group UK university cities, with investment backing from Menora Mivtachim. Since 2020, Cain’s credit platform has provided over £400 million in construction financing for the PBSA sector across the UK and Spain, including a recent £91.5 million construction loan to Vita Group for its inaugural House of Social development in Manchester.

Oliver will report to Arvi Luoma, who leads Cain’s European equity strategies. His team includes Matteo Busetti, Vice President, who has played a key role in Cain’s existing PBSA investments.

Arvi Luoma, Cain International said: “Oliver’s appointment marks a crucial step in advancing our European equity strategy, specifically within the living sector. His expertise in PBSA across our target geographies will be vital as we aim to build a premium portfolio of 10,000 student beds within the next five years and further establish Cain’s presence in this growing asset class.”

Oliver Cummings, Managing Director, Head of PBSA, Europe said: “This was a unique opportunity to join a dynamic investment firm with a well-established track record and exciting plans for growth. Cain’s integrated expertise across both real estate credit and equity in the PBSA sector positions us well to make strategic moves based on a partnership approach across Europe’s core markets. I look forward to being a part of Cain’s continued evolution.”

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