The private equity firms’ large bet on the hotel owner and operator speaks to the faster-than-expected rebound in the sector, but its pricing remains a point of contention.
The $356bn manager’s purchase of New York-based Almanac Realty Partners also marks its largest acquisition to date.
New York-based Pretium’s $1.5bn deal is one of the largest GP-led secondaries transactions recorded, as such deals account for a growing share of the market.
With the addition of Oaktree, a respected credit business, Brookfield has shown how debt investing has risen to prominence post-global financial crisis and become crucial for being a global diversified asset manager, reports PERE's sister title Private Debt Investor.
The French firm has acquired a real estate debt portfolio in the country and a 24-member investment team as it expands its global strategy to deploy capital.