Partners Group to commit further capital
Partners Group, a leading global private markets firm, has agreed to acquire a strategic minority stake in Trinity Investments, a U.S. based hospitality-focused real estate investor, to support its future growth. Partners Group will initially target a U.S. $500 million investment with Trinity and will also have the opportunity to commit further capital to Trinity's North American, European, and special situations investment platforms.
Partners Group's acquisition of a strategic minority stake in Trinity aligns with the firm's strategy to invest in real estate operating companies in order to provide exposure to the full value chain across the asset lifecycle. Future capital commitments from Partners Group will support Trinity in executing on investment opportunities and expanding its platform both in the U.S. and across new geographies, including Europe.
"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 program together," said Sean Hehir, Managing Partner, President, and CEO of Trinity. "We see an abundance of opportunities to deploy our sophisticated platform for hotel real estate, re-positioning, operation and asset management into new hotel assets and credit investments both in North America and abroad."
"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," said Jason Longo, Member of Management, Real Estate Americas, Partners Group. "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."
In October 2023, Trinity announced the opening of its London office under Managing Partner Ryan Donn. The global expansion followed an active year for Trinity, during which the firm was one of the largest buyers of hotels in the United States. In January, Trinity received the 2023 Transaction of the Year Award1 for deals over U.S. $25 million at the 2024 Americas Lodging Investment Summit (ALIS), one of the region's largest hotel conferences.
Trinity and Partners Group acquired The Scottsdale Plaza Resort Villas earlier this month, extending the partnership between the two firms, which began with their first joint venture in 2022 with The Las Colinas Resort in Dallas, which recently converted to The Ritz-Carlton Dallas, Las Colinas.
Jeff Altman, Senior Managing Director in JLL's M&A and Corporate Advisory group, and Jones Lang LaSalle Securities, LLC, an affiliate of Jones Lang LaSalle Americas, Inc., served as financial advisor to Trinity Investments in connection with the Partners Group transaction.
About Trinity Investments
Trinity is a private real estate investment firm with a 28-year history of specializing in value-add opportunities. Based in Honolulu, Hawaii, with offices in Los Angeles and London, Trinity focuses on unique real estate investments in world-class markets. As of April 2024, Trinity has invested more than U.S. $9.8 billion in the United States, Mexico, Europe, and Japan by leveraging its deep institutional knowledge and longstanding local relationships. For additional information, please visit Trinity's website at www.trinityinvestments.com. For updates on Trinity's investment activity, follow Trinity on LinkedIn.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested USD 210 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group seeks to generate attractive returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 147 billion in assets under management as of 31 December 2023, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,900 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn.
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1 Awarded January 23, 2024. The ALIS Single Asset Transaction of the Year Award recognizes a hotel or resort in which more than a 50 percent ownership stake has been acquired in the Americas between January 1, 2023, and December 31, 2023. Nominations are reviewed according to the following criteria: (i) pricing metrics, financing specifics, yield, and anticipated return on investment, and value implications (ii) activeness of buyer/seller/brand/operator in structuring/completing the transaction (iii) unique challenges faced.
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Contacts:
Trinity Media Contact
Kris Cole Carlin Pappas
Prosek Partners
media@trinityinvestments.com
