Business e via Italy - Hotel investor citizenM has marked its entry into the Italian market with the acquisition of an asset in Rome for a newly launched fund. The company – which is backed by Singapore’s sovereig
n wealth fund GIC and Dutch pension fund manager APG – has hired asset manager Antirion to establish the new alternative investment fund to invest in existing hotels and assets suitable for hotel conversion. Hotel group citizenM said the fund will target assets in Italy’s major cities, with a specific focus on Rome and Milan. The first property acquired was built in the late 1950s and has an overall area of approximately 7,000sqm. The asset will be refurbished and converted into a citizenM hotel with 160 rooms. #finance #business #madeinitaly #italy #investment #management #retail #merger #banking #setup #italian #fashion #distribution #food #assistance #legal #insurance #automotive #industry #fashion #faahionweek #production #businessdevelopment #sales #internationalisation #realestate #assetmanagement #commercial #privateequity
