Investors in £1bn student property fund hit with delays to redemptions

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An offshore property fund investing in student accommodation around the UK has been hit with claims investors cannot redeem their investments.

Investors have told Investment Week they have been trapped in the £1bn Dublin-domiciled Brandeaux Student Accommodation fund - which rents accommodation to students under the name "Liberty Living" in major cities around the UK - for months after the vehicle delayed redemptions. According to a source, investors who submitted redemption requests eight months ago are still waiting to exit the fund. This is two months longer than the six-month redemption period given in the fund's private placement memorandum. The vehicle was already forced to suspend redemptions in December 2008 followin...

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