Swiss-based private markets firm Partners Group has agreed to buy a minority stake in US hospitality investor Trinity Investments to boost its ambitions for global expansion.
Partners has committed $500m (£401m) for acquisitions, with scope to deploy further capital in Trinity’s North American, European, and special situations investment platforms. Financial terms for the stake acquisition were not disclosed.
Trinity said future capital commitments from Partners Group would support the business in executing on investment opportunities and expanding its platform both in the US and across new geographies, including Europe.
Last year, Trinity opened a London office under managing partner Ryan Donn. Earlier this year it bought the Park Hyatt Zurich from an affiliate of Hyatt Hotels Corporation, in partnership with funds managed by Oaktree Capital Management and funds managed by UBS Asset management’s real estate and private markets multi-managers business. It marked Trinity’s first acquisition in Europe.
Separately, Trinity and Partners Group acquired the Scottsdale Plaza Resort & Villas earlier this month. The partnership between the two firms began with their first joint venture in 2022 with Las Colinas Resort in Dallas, which recently converted to the Ritz-Carlton Dallas, Las Colinas.
Sean Hehir, managing partner, president and chief executive at Trinity, 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.”
JLL advised Trinity Investments on the Partners Group stake purchase.
See also: Why Trinity is primed to splash out on UK and Europe hotels
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