LONDON--(BUSINESS WIRE)--University Partnerships Programme (UPP), the leading provider of on campus student accommodation infrastructure and support services in the UK today announces that Professor Shamit Saggar has stepped down as Chairman of UPP Group Holdings Limited following the conclusion of his three year term.
He will be succeeded by Robert McClatchey, currently a Non-executive Director of UPP Group Holdings, who will assume the role of Chairman with immediate effect.
Robert has had a long association with the business, having been involved in the development of UPP since its inception. He was a founder member of the Barclays Infrastructure Funds and Managing Director of Barclays Infrastructure Funds Management (BIFM). Whilst at BIFM, Robert led the private equity buyout of UPP from Jarvis PLC and was subsequently fully involved in the establishment of the current Group structure. He was also instrumental in the sale of the Group to its current shareholders. He has a degree in economics from King's College, Cambridge and qualified as a chartered accountant with KPMG in 1990.
Sean O’Shea, Group Chief Executive said: “Over the last three years, Shamit has bought considerable thought leadership to the Group and helped further enhance our standing within the sector. On behalf of the Group, I would like to thank him for his advice and dedication, while at the same time welcome Robert to the role. Robert has a deep rooted knowledge of the Group which will be effective in ensuring a smooth transition. This, together with his breadth of experience and expertise, will help further drive the future direction of UPP and our market leading position within the sector.”
Robert McClatchey commented: “I am delighted to be appointed Chairman and to have the opportunity to build on the longevity of my association with UPP in this role. I look forward to working with the talented teams and leading this fantastic business through its next phase of growth.”
Notes to editors
About University Partnerships Programme
University Partnerships Programme (UPP) is the leading provider of on campus student accommodation infrastructure and support services in the UK. We have around 30,000 rooms under management or in construction through long term partnerships with 14 leading UK universities. With over 700 employees, we work to deliver the very best student experiences, together with great universities.
We offer bespoke partnerships of typically 40-50 years which enable universities to make the most of their assets, free up resources and improve services available to students. We design and develop high quality, affordable student accommodation on campus. Our innovative approach means our interests are aligned with those of each university partner.
Founded in 1998, we have since invested approximately £2 billion in universities across the UK. We have established a long term growth strategy to ensure we remain well positioned to meet the growing demand for investment within the UK’s higher education sector, while at the same time helping our partners achieve their long term ambitions. In 2013, we outlined a five year growth plan in which we aim to invest a further £1 billion in delivering the very best student experiences, as well as expand our portfolio to more than 40,000 rooms.
In 2013, UPP made its debut £382.1 million public bond issuance. With a multicurrency programme size of £5 billion, the issuance was the first of its kind within the sector and illustrates our ongoing ambition to bring long term institutional investment to higher education in the UK. In 2014, UPP launched a new tranche of £149.7 million index linked senior secured notes under its investment grade programme.
* All figures as at 31 August 2015.