H.I.G. Takes Stake in Luxury London Hotels It Helped Finance
- Miami-based PE forms equal joint venture with board control
- Deal covers the five-star Middle Eight and Guardsman hotels
The Guardsman hotel in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Funds managed by H.I.G. Capital have taken a 50% stake in a pair of luxury hotels in London in a deal with Shiva Hotels, almost two years after helping finance them.
The Miami-based private equity firm has formed a joint venture with Shiva for the five-star Middle Eight and Guardsman hotels, people with knowledge of the transaction said. The deal includes partially paying down a senior loan from Leumi UK that was secured against the properties, the people said, asking not to be identified as the terms are private.