Saudi Arabia’s Public Investment Fund (PIF) acquired 45% of British-Italian Rocco Forte Hotels (RFH) while the eponymous family will keep a controlling stake (see here a previous post by BeBeez). PIF carried on such a transaction on the ground of an enterprise value of 1.4 billion GBP. Rothschild & Co advised the target. CDP Equity and CDPE Investimenti (fka FSI Investimenti a firm of which CDP Equity has 77% and Kuwait Investment Authority 23%) sold their 23% of Rocco Forte that acquired in 2014 for 60 million or 76 million euros. Four members of the Forte Family will sell 26% of the company. Sir Rocco Forte and his sister Olga Polizzi will keep their roles as executive chairman and vice-chairwoman. Charles Forte , Lydia Forte and Irene Forte will also remain in charge as executives. PIF aims to support RFH for doubling the company’s hotels portfolio and increasing its presence in the Middle East, Dubai and Saudi Arabia.
Three Hills Capital Partners (THCP) invested a further 30 million euros in French Hotel chain Castellet Hospitality (see here a previous post by BeBeez). In 2022 the London-based fund poured 61.5 million in Castellet (the owner of mid-range hotels brands Accor, Louvre Hotel, Marriott, and B&B Hotels) for implementing a buy-and-build strategy. The company is reportedly in advanced talks for acquiring French assets Novotel Lyon Confluence, Hôtel de Mougins and B&B Saint Jean de Maurienne. Gilles Larrivé is the ceo and founder of Castellet Hospitality. Mauro Moretti is the founder and managing partner of THCP.
Aquileia Capital Services (ACS), a Bain Capital Credit company for the management of real estate-backed credit, announced the sale of assets based in Albenga (Savona area) to an undisclosed private investor (see here a previous post by BeBeez). ACS acquired the asset in 2022 from a troubled owner, renegotiated the lease contracts and carried on a light capex. The asset is of 3638 sqms. Bonanno Immobili acted as broker. VDA Studio Legale assisted the vendor. Danilo Augugliaro is the ceo and coo of ACS.
