Europa Capital's Europa Generation joint venture with Generation Student raised approximately £100 million at the first closing of its U.K. student accommodation fund, propertyfundsworld reported.

With £180 million of assets under management, Europa Generation Student Fund hopes to capitalize on the favorable conditions of the student accommodation markets in U.K. cities and deliver sustainable and growing income return to investors. Tim Turnbull, a partner at Europa Generation, was cited by the news portal as saying that the joint venture aims to expand the fund's portfolio throughout the European country.

Europa Generation Student Fund currently owns 1,561 operational beds in Bath, Newcastle, Sheffield, Aberdeen and Bournemouth, and another 144 beds in Oxford that are expected to become operational in the summer, the March 13 report added.