Aussie student housing fund gets $645m from Canada pension

BANGKOK -- Ivanhoe Cambridge, the property arm of Canada's second-biggest pension fund, has invested 1 billion Australian dollars ($645 million) into Australia's largest student accommodation fund, which is managed by rental residential operator Scape.

Dubbed the Scape Core Program, the fund currently manages a portfolio of 27 rental residential buildings and 13,000 rooms for college students, predominantly in Sydney and Melbourne, according to a joint announcement.