Bain Capital Special Situations (Bain Capital) and Smith Hill Capital (Smith Hill), have announced a joint venture to originate debt and preferred equity to serve the financing needs of companies and assets in the hospitality sector. The platform has the objective of deploying $1bn of gross capital over the next several years.
The platform will initially focus on new loan originations and debt refinancing exclusively in the hospitality space within primary and secondary markets throughout the U.S. In select instances, Bain Capital and Smith Hill Capital will seek to acquire debt and provide rescue capital to high-quality borrowers.
Bain Capital’s experience in the sector includes Apple Leisure Group, Hard Rock Hotel Marbella, Hotel Don Carlos, Marriott International, Inc.’s EDITION brand, Ooedo Onsen Holdings, and Pyramid Global Hospitality.
