The partnership will enable Excel to deploy growth capital into additional Hilton and Marriott-branded limited-service and extended stay hotels across the U.S. Excel Group founder and principal Shoham Amin called the transaction a pivotal milestone, noting that Ares' backing will support the firm's continued expansion in the hospitality sector. Ares Co-Head of Real Estate Secondaries, Jamie Sunday, highlighted plans to strategically grow the existing portfolio through further acquisitions. Ares, which managed over $525bn in assets as of 2024, sees strong potential in the select-service and extended stay segment. Excel Group, founded in 2011, has built a portfolio of approximately $1bn in hotel real estate. Investor demand for select-service and extended stay hotels remains strong, with JLL reporting a 232,000 room night surge year over year in 2024. Business travel and temporary housing needs continue to drive the sector's growth. With interest rates stabilizing, hospitality investment activity is expected to gain further momentum in 2025, particularly in urban markets....

This marks the second time Blackstone has raised $8bn for a real estate debt fund, matching its 2020 record. The firm continues to capitalise on opportunities where banks and traditional lenders face constraints, particularly as rising interest rates impact the sector. Hear more about Blackstone's fundraising efforts at Italy's Largest Private Equity Conference in Milan. 'We are extraordinarily appreciative of our investors for allocating this amount of capital during this period of market dislocation,' said Tim Johnson, global head of Blackstone Real Estate Debt Strategies. 'We could not be more enthusiastic about the opportunities ahead.' Despite a recent decline in real estate fundraising by private equity firms, market indicators point to a recovery. Data from Preqin shows that commercial mortgage-backed securities volumes have nearly tripled in 2024 compared to the previous year. Blackstone's strategy includes acquiring loans from troubled borrowers and lenders looking to reduce their real estate debt portfolios. The firm frequently partners with commercial banks, which retain the senior portion of loans, while Blackstone assumes higher-risk positions with potential for greater returns....

Since its acquisition, Partners Group has steered Greenlink through financial close and construction, reaching initial commercial operations on schedule in early 2025. The project is Europe's first project-financed interconnector and features two converter stations linked by 190 km of high-voltage cables beneath the Irish Sea. The infrastructure connects National Grid's substation in Pembrokeshire, Wales, to EirGrid's Great Island substation in County Wexford, Ireland. Greenlink plays a vital role in European energy integration, improving grid stability, facilitating the expansion of renewable energy, and enhancing energy security by diversifying supply sources. The project operates under the Cap & Floor regime in Britain and Ireland, offering downside protection, predictable cash flows, and inflation-linked revenues. 'Greenlink is a critical infrastructure asset that operates across two important themes, the energy transition and grid stability,' said Carsten Koenig, managing director of infrastructure Europe at Partners Group. 'The company has clear downside protection, as well as the potential to benefit from the development of future large-scale renewable projects.'...

After spending most of the 2024 campaign blaming Democrats for inflation and insisting that tariffs don't increase prices, Donald Trump and his allies have a new economic message: High prices are good. Treasury Secretary Scott Bessent, for example, recently admitted to the Economic Club of New York that inflation-weary Americans could see a 'one-time price adjustment' from Trump's tariffs, but he quickly added that 'access to cheap goods is not the essence of the American dream.' Representative Mark Alford of Missouri told CNN, 'We all have a role to play in this to rightsize our government, and if I have to pay a little bit more for something, I'm all for it to get America right again.' And Commerce Secretary Howard Lutnick put his own spin on the argument, telling NBC News that, yes, prices on imports will rise, but American-made goods will get cheaper, and that's what matters. (In fact, tariffs generally lead to price increases for imported and domestic goods, because the latter face less foreign-price competition.)...