The Carlyle Group and Explorer Investments Acquire Penha Longa Hotel & Golf Resort
Lisbon, Portugal - Global alternative asset manager The Carlyle Group (NASDAQ: CG), and Explorer Investments, an independent alternative asset management company in Portugal, today announced they have purchased Penha Longa Hotel & Golf Resort in Portugal. Financial details of the transaction were not disclosed.
The Resort will continue to be managed by Ritz-Carlton, a Marriot Group company, who have run the resort since December 2003.
Penha Longa Hotel & Golf Resort, part of Quinta da Penha Longa, in Sintra, is one of the most iconic resorts in Portugal, with 194 rooms, a spa and a wellness centre as well as more than 3,000m2 conference and meeting facilities. The resort features a golf course, highlighted as one of the top 30 best golf courses in Europe, and designed by Robert Trent Jones Jr. In addition to extensive meeting, sporting and leisure facilities, in 2018 Penha Longa became the first hotel in Portugal to have two restaurants awarded Michelin stars.
Peter Stoll, Managing Director for Carlyle European Realty advisory team, said: “Penha Longa is one of the best-known and most-established hotels in Portugal, and the hospitality sector in the country is experiencing a strong demand from both leisure and corporate travellers. We are excited to partner with Explorer Investments to develop the full potential of the resort.”
Pedro Seabra, Partner for Real Estate of Explorer, said: “The Explorer’s co-investing and asset management business in Real Estate and Hospitality is growing in a sustainable way, and we are very happy with the quality of this asset, which comprises state of the art hospitality and first-class real estate development, and the quality of our partner in this investment”.
CBRE acted as an advisor to the transaction. Carlyle and Explorer received additional support by Uría Menéndez – Proença de Carvalho and Deloitte.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.
About Carlyle Europe Realty
Carlyle Europe Realty (CER) is focuses on investments in a thematic and targeted way in real estate and real estate related assets and companies primarily in the United Kingdom, France and Germany, as well as Belgium, Denmark, Finland, Ireland, Italy, Luxembourg, Norway, Portugal, Spain, Sweden and the Netherlands pursuing an opportunistic investment and management strategy. The CER investment team is led by European real estate veteran Peter Stoll and a senior team that averages over 17 years of European principal investing experience. The CER investment team has an on-the-ground presence in key locations in the United Kingdom, France and Germany and a pan-European investment team based in London, as well as benefitting from the global resources of Carlyle.
About Explorer Investments
Founded in 2003, Explorer is the independent management company of alternative assets with the greatest experience and track record in Portugal. Explorer manages and advises funds with a total value in the region of € 1,500M, divided into three Business Areas: Private Equity, Growth Capital, Tourism and Real Estate. Explorer’s team is made up of more than 35 people, with complementary experience in investment banking, consulting, legal advice and industry. The investment track record of its team, its deep knowledge of Portuguese business fabric, its experience in contracting with public entities and its long-term relationships with banks, financial intermediaries and lawyers, gives Explorer a unique competitive advantage in the management of alternative assets in Portugal. Explorer has a relevant presence in the Portuguese real estate market since 2012, as investment adviser of the Discovery Property Fund, a Tourism oriented fund, with Gross assets in the region of € 950 M, and the recently created Explorer Real Estate I, focused on acquiring Commercial Real Estate in Lisbon, with a gross asset Value in the region of € 200 M.
The Carlyle Group
Tel: +44 (0) 207 894 1632
José Pedro Luís
939 743 133
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