Mutuactivos, the asset managment subsidiary of Spanish insurance company Mutua Madrileña Automovilista, has launched its first private equity fund focused on the real estate sector.
Mutuafondo Hospitality, FCR, will invest in hotels and hospitality-related leisure assets located in established tourist markets within Spain and other southern European markets such as Portugal and Italy.
Mutuactivos SGIIC will act as the fund manager supported by its strategic partner Stoneweg, a specialist alternative investment firm with €11bn of real assets under management.
Eligible investments include operational assets, properties requiring refurbishment or repositioning for hospitality and leisure use, the firm said in a statement.
Luis Ussía, chairman and CEO of Mutuactivos SGIIC, said the launch of Mutuafondo Hospitality, FCR, was in response to investors’ growing interest in private markets as a means to diversify portfolios and enhance their overall risk‑return profile.
“Real estate, in particular, has become one of the most attractive segments within the alternative investment universe and the hotel sector especially, where returns have been steadily rising in recent years,” he said.
Joaquin Castellví, co-founder and CIO of Stoneweg, said: “For Stoneweg Hospitality, this fund represents a natural step in our evolution and marks a new phase in our investment strategy within the hotel sector.
“After managing more than €1bn in hotel assets over the past five years, we have consistently demonstrated our ability to identify and transform opportunities with strong value‑creation potential.”
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