CPP Investments Forms Euro Hotel JV with Hamilton-Pyramid Europe
Posted on 08/17/2022
Canada Pension Plan Investment Board (CPP Investments) formed a joint venture with Hamilton-Pyramid Europe. The JV will focus on the European hospitality sector. CPP Investments has committed €475 million to the JV. Hamilton–Pyramid Europe is a hotel operator and co-investment partner and forms part of the Pyramid Global Hospitality group of companies. Headquartered in London, with satellite offices across Europe, Hamilton has a growing portfolio of managed and asset managed hotel properties across the region.
With initial equity commitments of €500 million the JV will focus on acquiring operating hotels in key gateway cities and select resort destinations in Europe; markets which offer strong leisure driven demand-supply dynamics, attractive liquidity and a sufficiently deep pool of institutional-quality assets.
The real estate group at CPP Investments has C$49 billion of investments globally in high-quality properties through both the private and public markets.
