Sovereign wealth funds, Singapore's GIC and Saudi Arabia's PIF have joined forces with French investors Credit Agricole Assurances and Amundi as well as US asset manager Colony NorthStar to take a 57.8% stake in AccorInvest, the hotel ownership division of French hospitality giant AccorHotels, for €4.6 bn.
Principal Real Estate has acquired a stake in the Rome Cavour Hotel through a Separate Account Mandate.
