public investment fund
PIF Enters Into Definitive Agreement to Acquire Significant Minority Stake in Rocco Forte Hotels
Rocco Forte Hotels | December 18, 2023
LONDON, 18TH DECEMBER 2023: Rocco Forte Hotels (the group) is pleased to announce that the Public Investment Fund (PIF) has entered into a definitive agreement to acquire a significant minority stake in the group. The Forte family will retain majority ownership and control. The arrangement sees the Italian entity CDPE Investimenti (CDPEI) selling its entire stake. PIF’s investment will include an element of primary equity which will accelerate the brand’s expansion in both existing and new global markets, building on the group’s track record of growth and development that includes eight new properties opened or committed in...
AccorHotels Sells 57.8% of the Capital of AccorInvest
AccorHotels | June 4, 2018
AccorHotels today announces that it has completed the sale of 57.8% of the capital of AccorInvest to sovereign wealth funds Public Investment Fund (PIF) and GIC, institutional investors Colony NorthStar, Crédit Agricole Assurances and Amundi, and other private investors. For AccorHotels, the transaction results in a gross cash contribution of €4.6 billion, which is slightly more than the €4.4 billion announced in February and in line with the higher percentage of capital finally sold. AccorHotels will therefore hold 42.2% of the capital of AccorInvest, which will no longer be included in the Group's consolidated financi...
