CPP Investments and Hamilton – Pyramid Europe Establish Joint Venture Focused on European Hospitality Sector
LONDON, August 17, 2022 /CNW/ – Canada Pension Plan Investment Board (“CPP Investments”) and hamilton -Pyramid Europe (“Hamilton”) is pleased to announce the creation of a new joint venture (JV) focused on the European hospitality sector. RPC Investissements is committed 475 million euros at the JV.
The Real Estate (ER) group of CPP Investments has 49 billion Canadian dollars1 of global investment in high-quality properties across private and public markets. The group takes a focused approach focusing on investing in experienced and well-capitalized real estate companies and has a well-diversified portfolio across sectors and major global markets.
hamilton – Pyramid Europe is a leading hotel operator and co-investment partner and part of the Pyramid Global Hospitality group of companies. Based at Londonwith satellite offices across Europe, hamilton has a growing portfolio of managed and asset-managed hotel properties throughout the region. from Hamilton The company’s unique strength lies in the firm’s ability to bring together deep operational expertise on a pan-European basis, combined with an investor mindset and deep financial and transactional expertise to offer our financial partners a single solution.
With initial equity commitments of 500 million euros the joint venture will focus on acquiring operating hotels in key gateway cities and select resort destinations in Europe; markets that offer strong leisure-driven demand-supply dynamics, attractive liquidity and a sufficiently large pool of institutional-grade assets.
In particular, the JV will seek to capitalize on the growing tourism trends in Europe by targeting assets that have strong appeal to leisure travelers and that offer distinct and superior experiences.
Partners have the ability to increase allocations in light of market opportunities and allow the joint venture to grow at its own pace.
“There is significant room for growth in many markets across Europeas tourists and local visitors seek superior hospitality experiences,” said Andrea Orlandi, Managing Director and Head of European Real Estate at CPP Investments. “Our new partnership with hamilton offers exposure to this asset class in European markets, leveraging their in-depth industry knowledge and insight, which will contribute to our objective of creating long-term value for CPP contributors and beneficiaries. »
“We are delighted to announce our partnership with CPP Investments today,” said Tobi Weissinger, Partner at Hamilton Pyramid Europe. “CPP Investments’ exceptional reputation in the real estate sector and its financial strength make it an ideal launch partner for us. Our collective ability to weather short-term market volatility and focus on long-term growth trends, identifying high-quality assets in markets, and the strength of our balance sheet, are key pillars of this strategy.
About the Canada Pension Plan Investment Board
The Canada Pension Plan Investment Board (CPP Investments) is a professional investment management organization that manages the fund in the best interests of more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified asset portfolios, investments are made worldwide in public equities, private equities, real estate, infrastructure and fixed income securities. Based at Torontowith offices at hong kong, London, Luxemburg, Bombay, New York City, San FranciscoSao Paulo and sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. To June 30, 2022the Fund has totaled 523 billion Canadian dollars. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook Where Twitter.
About hamilton – European Pyramid
hamilton – Pyramid Europe provides unparalleled expertise to hotel owners across Europe with a focus on maximizing return on investment. Their comprehensive hotel solution includes hotel management, asset management, project management and development, as well as acquisition and advisory services, all delivered by a unique pan-European team of industry specialists. For more information, please visit www.hamiltonpyramid.com and www.pyramidglobal.com.
SOURCE Canada Pension Plan Investment Board
For further information: Media Contacts: CPP Investments: Steve McCool, Managing Director, CPP Investments, tel. : +44 20 3947 3002, email: [email protected]; Hamilton – Pyramid Europe: Tobi Weissinger, partner, tel. : +44 203 696 1939, e-mail: [email protected]