The $525B (C$714.4B) Canada Pension Plan Investment Board has committed up to €460M ($543M) in additional funding to Nido Living’s integrated purpose-built student accommodation platform in Continental Europe.
CPPIB acquired Nido Living in April 2024. The additional funding will enable Nido to acquire Livensa Living, a well-known student housing platform operating across Iberia, from a private real estate fund managed by Brookfield Asset Management. Through acquiring Livensa, Nido will become one of the largest student housing operators in Europe, with approximately 13,000 beds.
“This is a significant strategic acquisition for Nido and demonstrates CPP Investments’ ongoing commitment to European PBSA — a sector that provides strong risk-adjusted returns for the CPP Fund,” said Thomas Jackson, head of real estate, Europe, at CPPIB, in a press release. “Livensa is a high quality PBSA platform and the acquisition complements Nido’s position in Iberia, a growing market with attractive outlook.”
The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions. As of March 31, 2025, CPPIB’s real estate allocation comprised 7% of the total portfolio, according to its annual report for 2025. Its real estate investments generated a net return of 3.8% in fiscal 2025 and a five-year net return of 0.5%, up from 0.7% and -5.0%, respectively, the year prior.
