A consortium comprising Davidson Kempner Capital Management, Highgate and Kronos has completed the acquisition of Portuguese investment manager ECS Capital.
Financial terms of the transaction have not been disclosed.
The transaction includes the acquisition of two funds managed by ECS, as well as some additional Portuguese companies, whose assets comprise 65 attractive hospitality, residential and commercial properties predominantly located across the Algarve region.
The ECS real estate portfolio includes 18 hotels and three golf courses, as well as residential properties and land to develop at the renowned Vale do Lobo Golf & Beach Resort and the popular Conrad Algarve Hotel in Quinta do Lago.
The consortium plans to invest in and grow the platform and asset portfolio over the coming years.
