Deals
U.K. Hotel Investor Faber Joins Bidding for Anbang Portfolio
- Former lieutenant to billionaire Barclay twins among bidders
- Troubled insurer selling hotels it bought for $5.5 billion
Pedestrians walk past the Westin St. Francis hotel in San Francisco.
Photographer: David Paul Morris/Bloomberg
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Richard Faber, a former lieutenant to the U.K.’s billionaire Barclay twins, is fronting an investor group that’s competing for a luxury hotel portfolio owned by Anbang Insurance Group Co., people familiar with the matter said.
A consortium backed by the British investor’s Spartan Advisors Ltd. is among bidders that were shortlisted to make binding offers for the collection of 15 properties, according to the people. Spartan has been seeking financing from sovereign wealth funds and wealthy individuals to back the offer, one of the people said, asking not to be identified because the information is private.