Private Markets
CPP Investments forms joint venture for two Brazilian Hilton hotels
CPP Investments will invest approximately C$200 million for a 49.5% interest in two Hilton hotels in Brazil through a joint venture with HSI. The assets are the 545-room Hilton Copacabana in Rio de Janeiro and 503-room Hilton Morumbi in São Paulo. Both are undergoing phased renovation programmes, according to CPP Investments.
CPP Investments announced an approximately C$200 million investment for a 49.5% interest in two Hilton hotels in Brazil through a joint venture with Brazilian real-estate and private-credit manager HSI. The assets are the 545-room Hilton Copacabana in Rio de Janeiro and the 503-room Hilton Morumbi in São Paulo. CPP Investments said both hotels are undergoing phased renovation programmes. HSI manages approximately US$2.5 billion across private real estate, listed real estate and credit strategies.