Henderson Park Acquires Le Méridien Etoile Hotel

Posted on 11/16/2016

Real estate firm Henderson Park, backed by major investors such as Stone Point Capital, the Kuwait Investment Authority, and Wafra Investment Advisory Group, acquired the Le Méridien Etoile hotel from Mount Kellett Capital Management and Cedar Capital Partners for US$ 500 million. Le Méridien Etoile hotel has 1,025 rooms and lies opposite of the Paris Convention Centre. Furthermore, the hotel was relaunched in October following a renovation.

In 2014, the Paris hotel was sold by Starman Hotels, a joint venture between Starwood Capital and the estate of the collapsed bank Lehman Brothers, for a reported US$ 380.5 million to Mount Kellett Capital Management and Cedar Capital Partners. Cedar Capital Partners reportedly took a 5% stake in the building at the time. Mount Kellett Capital Management was founded in 2008 by two former partners of Goldman Sachs.

Earlier in 2016, Henderson Park, led by Nick Weber, raised some US$ 500 million for a European real estate platform. Nick Weber is a former executive at Goldman Sachs and Mount Kellett Capital Management.

Keywords: Public Institution for Social Security (PIFSS).

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