Pro-invest Group, an Australia and New Zealand focused asset manager and investment firm has announced it secured A$300 million (an equivalent of US$212.4 million) from a different categories of institutional investors for its second Australian Hospitality Opportunity Fund (Fund II).
The Fund II is partially backed by Clean Energy Finance Corporation secured four sites in Auckland, Sydney and the Sunshine Coast which it plans to develop 1000 rooms under the Holiday Inn Express and voco brands.
Pro-Invest Group’s CEO sees this as the firm solidifying its presence in the New Zealand.
“We are seeing – and are well-positioned to capture – emerging opportunities across dislocated markets. In particular, we anticipate more distressed opportunities arising over the next 6 to 12 months,” said Ronald Barrott, CEO of Pro-invest Group. “As an integrated platform combining hotel investment, development and operational capabilities, we are uniquely placed to optimise these opportunities in existing, new and redevelopment assets and generate significant value for investors.”
Founded in 2010, Pro-Invest if and as an asset manager and investment firm with focused on real estate private equity and real estate asset management with AUM up to A$2 billion.