Australian pub owner Harvest Hospitality Group is seeking to raise A$500m (€234m) for an open-ended fund.
The Harvest Hospitality Income Fund (HHIF) will invest in and operate hospitality venues in Australia and is the firm’s fourth investment vehicle.
Harvest, established in 2014, owns a portfolio of 13 large-format pubs in New South Wales and South Australia, with a combined value of A$340m.
CEO and co-founder Chris Cornforth said: “The launch of HHIF is a significant step in broadening our investment offering while staying true to our core business – operating pubs.
“By combining active operational management with disciplined investment management, we’re connecting investors seeking regular income to a sector that we believe continues to demonstrate resilience and long-term value.”
Executive director Mark Pratt, who recently joined the group, said: “We’ve got three quality seed assets in the pipeline for HHIF. When operated effectively, these venues have proven to be attractive, profitable and highly engaging assets – and, let’s be honest, who wouldn’t want to invest in a great pub?
“Harvest’s strong track record and disciplined management approach give us confidence that this opportunity will appeal to investors seeking stable, income-generating exposure to a resilient asset class.”
