Goldman arm buys varsity’s hostel facilities

MUMBAI: A Goldman Sachs unit has acquired the student housing facilities of a private university in north India at an enterprise value of ₹900 crore (about $120 million), said two people aware of the development.

Good Host Spaces, a student housing company majorityowned by Goldman Sachs, recently took over the land and hostel facilities of OP Jindal Global University (JGU) based in Sonipat, Haryana, said the two people cited above declining to be named.

The university offers courses in subjects such as law, liberal arts and international affairs.

Good Host Spaces is owned 75% by Goldman and the rest by mortgage financier Housing Development Finance Corp.

The investment reflects the Wall Street investment bank’s belief that the turmoil caused by the coronavirus pandemic will subside and students will start returning to physical classrooms.

So far, lockdowns due to pandemic has disrupted school and college calendars and sparked a major boost in online education.