Barclays Capital is in advanced negotiations with Dutch pension fund PGGM to sell its majority stake in University Partnerships Programme, the UK's largest developer of university campuses, according to a news report in the Financial Times. The deal is expected to fetch close to £1bn (EUR 1.15 bn), representing one of the biggest corporate transactions of the year.

PGGM has reportedly entered into exclusive talks with UPP to buy the bulk of BarCap's 80% stake in the developer, which has a portfolio of 22,000 rooms and a rent roll of £81.5 mln.

The management of the student housing group would maintain their minority shareholdings in the business, the paper said.