Partners Group is making an initial $500m (€471m) investment for a minority stake in US-based hospitality-focused real estate investor Trinity Investments.
The global private markets firm, which is making the investment to support Trinity’s future growth, said it will also have the opportunity to commit further capital to Trinity’s North American, European and special situations investment platforms.
The deal expands Partners Group and Trinity’s relationship. The pair teamed up for their first joint venture in 2022 with The Las Colinas Resort in Dallas, which recently converted to The Ritz-Carlton Dallas, Las Colinas. Earlier this month, the partnership acquired The Scottsdale Plaza Resort & Villas.
Sean Hehir, managing partner, president and CEO of Trinity Investments, said: “We are grateful to have held a long-standing relationship with Partners Group and that the firm has committed to investing alongside Trinity so that we can continue to build a preeminent global hospitality programme together.
“We see an abundance of opportunities to deploy our sophisticated platform for hotel real estate, repositioning, operation and asset management into new hotel assets and credit investments both in North America and abroad.”
Jason Longo, member of management, real estate Americas at Partners Group, said: “We are investing in real estate operating companies in order to gain vertical depth in sectors and geographies where we have strong thematic conviction. Trinity has nearly three decades of experience in the hotel real estate asset class and that depth of knowledge shines through.
“We believe Trinity’s value-add approach closely matches our focus on value creation. Through our more integrated relationship, we will build platforms that could unlock attractive returns for our clients.”
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