Alta in the News

HSBC Holdings Plc’s former Asia-Pacific equities head Rakesh Patel plans to raise a $50 million fund to invest in wellness hospitality real estate in Asia, targeting undervalued assets.

Alta Capital Real Estate launches Asia-Pacific opportunistic fund

10/28/2020 IPE News

(IPE) — Alta Capital Real Estate has launched an opportunistic fund to target assets in Asia-Pacific.

 

“Wellness and sustainability are at the core of Alta’s investment strategy. We believe they can drive attractive returns for investors, create memorable experiences for guests and add value to local communities and the environment.”

 

The Alta Hospitality Fund Asia fund aims to create a $50m (€42bn) portfolio and deliver an internal rate of return of between 15% to 25% over six years, the fund’s manager said.

The fund, which has already identified a number of investment opportunities, targets assets that are too small for global players and too large for individual investors.

The fund will invest in ”undervalued sustainable and wellness hospitality assets” in key urban and resort locations around Asia-Pacific including Thailand, Vietnam, Indonesia, Sri Lanka, Malaysia, Korea and Japan.

Alta CEO and founder Rakesh Patel has made a “significant personal investment” in the fund, which has also already attracted commitments from other investors.

Patel said: “Consumers are looking for more meaningful travel that incorporates traditional and modern wellness practices as well as authentic local experiences. They are increasingly mindful of the approach that brands take to the environment, their employees and the communities in which they operate.

”That is why wellness and sustainability are at the core of Alta’s investment strategy. We believe they can drive attractive returns for investors, create memorable experiences for guests and add value to local communities and the environment.”