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UK: Fusion Group, one of the UK’s largest privately-owned student accommodation developers and operators, has appointed Richard Pilkington as group CEO.
He succeeds Nigel Henry, co-founder and CEO, who becomes chairman of the business.
Pilkington joins from Modon, the Abu Dhabi-based real estate group, where he has recently served as CEO for its international business, including the establishment of Modon’s presence in the UK, partnering with British Land and GIC in the development of the landmark 2 Finsbury Avenue building at Broadgate, London.
Before joining Modon, he was head of European real estate at Cain International and also held senior leadership roles at Oxford Properties and MGPA, a private equity real estate firm that is now part of BlackRock.
Fusion has grown significantly over the past 12 months in response to the undersupply of accommodation in the living sector, and in particular with PBSA. Since mid-2024, the business has more than doubled the size of its team, expanded its capital partnerships and development pipeline, and relaunched its operating platform, Fusion Students.
Fusion Group now has a number of key institutional capital relationships, which it intends to grow and expand further. This year, Fusion relaunched its operating platform with 2,000 PBSA beds under management, around 1,700 of which it completed itself in the past year alone with a further 275 developed by Olympian on behalf of Cain International, while the business has delivered a further 5,000 PBSA beds since its inception in 2012.
It is on track to deliver a further 1,500 beds in 2026, with a forward development pipeline that provides the potential to deliver a further 9,000 beds across the living sector by 2030, and results in a minimum 12,000 operational beds under management.
Pilkington said: “The living sector across Europe continues to experience a significant imbalance in supply and demand, creating opportunity for investors and developers. However, delivering appropriate risk adjusted returns remains challenging due to planning and regulatory matters, building and operating cost inflation, the fluctuating cost of capital and the need for hands-on operational management.”
“This means that more than ever investors value partnering with a fully integrated operating platform that can manage these challenges and deliver returns. Fusion is a business that is really well positioned to respond to these market needs and become one of Europe’s leading living platforms. Joining Fusion, a business I have known and admired for many years at this point in the cycle is a really exciting opportunity,” he added.
Nigel Henry, chairman of Fusion Group, said: “Fusion has grown significantly over the past few years and the time is right for our business to develop with new executive leadership. Richard has been a friend to me and the business for a number of years now, and his experience in leading growth businesses, his knowledge of capital markets, development and operating platforms, together with his style and approach, make him the perfect fit for our business. I look forward to continuing to support him and the wider business in delivering on our ambitions for what this extraordinary team can achieve.”
Highlights:
• Fusion Group, one of the UK’s largest privately-owned student accommodation developers and operators, has appointed Richard Pilkington as group CEO
• He succeeds Nigel Henry, co-founder and CEO, who becomes chairman of the business
• Before joining Modon, he was head of European real estate at Cain International and also held senior leadership roles at Oxford Properties and MGPA, a private equity real estate firm that is now part of BlackRock
