Abu Dhabi Utility Tabreed Considers More Deals After Buying PAL
'We're deep pocketed and if the opportunity arises, for sure we're going to pursue it,' Khalid Al Marzooqi, chief executive officer of the company known as Tabreed, said in a Bloomberg Television interview.
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Yahoo
2 hours ago
- Yahoo
Sixth Street Welcomes Stuart Wrigley to Expand Firm's Presence in Asia Pacific
Establishes new Singapore office to deepen local relationships and expand investment capabilities SAN FRANCISCO & SINGAPORE, July 23, 2025--(BUSINESS WIRE)--Sixth Street, a leading global investment firm, today announced the appointment of Stuart Wrigley as Partner, Head of Sixth Street Asia Pacific and Head of Capital Formation and Strategy International. Wrigley will also lead the firm's new Singapore office, which is expected to open in October 2025. In this newly created role, Wrigley will be responsible for leading the expansion of Sixth Street's client franchise across Asia Pacific, Europe and the Middle East. His mandate will focus on deepening relationships with existing investors, while leading new capital formation activity, strategic partnerships and the expansion of the firm's investment capabilities in Asia Pacific. Sixth Street has built a longstanding track record in Asia Pacific, having invested in the region for more than a decade, including AirTrunk and ESR Group Limited. "Stuart brings the depth of experience and expertise to accelerate our activity internationally," said Sixth Street Co-Founder and Chief Executive Officer Alan Waxman. "We've developed a close relationship with Stuart over the course of two decades. In that time, he has demonstrated his strength as a business builder and clear alignment with our values of entrepreneurship, integrity and teamwork. We believe that the unconstrained and thematic nature of our investment platform is well positioned to deliver investment excellence and serve our investors in these strategic regions. We are committed to Asia Pacific and look forward to further expanding our presence through the opening of our new office in Singapore." Wrigley joins Sixth Street following a 24-year tenure at Goldman Sachs, where he most recently served as Head of Client Solutions Group in Asia Pacific for Goldman Sachs Asset Management (GSAM). In this role, he supported GSAM's expansion across Asia Pacific and led a team focused on developing tailored investment strategies for institutional and wealth management clients in the region. "I have been consistently impressed with Sixth Street's culture, team and success in building a truly differentiated global investment firm," added Stuart Wrigley, Partner, Head of Sixth Street Asia Pacific and Head of Capital Formation and Strategy International at Sixth Street. "Having spent 18 years in Asia Pacific and the Middle East, I believe that Sixth Street's flexible, long-term capital has a unique opportunity to further support great companies in these regions and, most importantly, serve our investors." About Sixth Street Sixth Street is a global investment firm with over $115 billion in assets under management and committed capital. The firm uses its long-term flexible capital, data-enabled capabilities, and "One Team" culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has more than 650 team members including over 280 investment professionals around the world. For more information, visit and follow Sixth Street on LinkedIn. View source version on Contacts Media Contact:media@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
New York Times
2 hours ago
- New York Times
Alden Global Capital Makes a Play for The Dallas Morning News
MediaNews Group, the newspaper operator owned by the investment firm Alden Global Capital, put in a bid on Tuesday to buy The Dallas Morning News, a last-minute twist in the sale of a publication that has been locally owned for 140 years. This month, the media conglomerate Hearst agreed to acquire DallasNews Corporation, the parent company of The Dallas Morning News, in a deal valued at $75 million, or $14 a share. That deal has been approved by the boards of each company and was expected to close later this year. MediaNews Group is offering $16.50 a share, or roughly $88 million, for the company, according to a letter to the DallasNews board that was disclosed in a filing with the Securities and Exchange Commission. MediaNews Group urged the board to consider what it said was a superior offer. It also said it would ensure that the print edition of the newspaper continued. 'We have been considering a potential transaction with DallasNews for several years,' MediaNews Group wrote in the letter, 'because we are consistently impressed with its commitment to high-quality local journalism supported by operational efficiency that maximizes resources available for the newsroom.' MediaNews Group is a subsidiary of Alden Global Capital, an investment firm that has bought dozens of newspapers around the country, often cutting costs by shrinking newsrooms through layoffs. It is the second-largest newspaper publisher in the company, with publications like The Denver Post, The Boston Herald and The San Diego Union-Tribune. According to the securities filing, MediaNews Group has purchased nearly 10 percent of DallasNews stock. Under the Hearst deal, The Dallas Morning News would join Hearst Newspapers, which operates 28 daily newspapers, including The San Francisco Chronicle. Hearst has been acquiring publications in Texas and in February reached a deal to buy The Austin American-Statesman from Gannett. MediaNews Group does not own any newspapers in the state. A spokesman for DallasNews declined to comment. A representative for Hearst did not immediately respond to a request for comment. DallasNews is a publicly traded company, but has retained the structure of a family-owned business. Robert Decherd, a descendant of the paper's founder, is the controlling shareholder. The Dallas Morning News has faced the same headwinds as other local newspapers, such as declining advertising revenue and a struggle to reach profitability. It offered buyouts to staff in 2023 and recently sold its Plano, Texas, printing plant. According to a recent article, the newsroom has 157 employees. Colleen McCain Nelson was recently named executive editor. She is expected to start in the role in August.
Skift
3 hours ago
- Skift
Ace Hotel Brand Is Close to Being Sold
Bloomberg reported that Japan's Seibu Holdings is close to signing a deal to acquire the eight-property Ace hotel brand. Will it sell for about $85 million? Read about that and other hotel development deals and news. The DJIA rose 179 points, Nasdaq was down 81, the S&P 500 was up four, and the 10-year treasury yield was down .04 to 4.34%. Lodging stocks were higher. SVC was the big gainer, up 12% while PK and INN both rose 5% on the day. Bank of America Securities upped its price target on Hilton to $285 from $275, Ryman Hospitality Properties to $110 from $105, and Summit Hotels to $5.75 from $5. It maintained Buy ratings on HLT and RHP and its Neutral rating on INN. Mizuho upped its target price on Hilton Grand Vacations to $73 from $70. They maintained their Outperform rating on HGV. Hotel Equities announced the opening of the AC Hotel Wichita Downtown. The property joins HE's portfolio of lifestyle hotels, located in Wichita's historic Old Town district. The 118-key hotel is owned by Spartan Downtown LLC and is managed by Greenwood Hospitality, a strategic partner of Hotel Equities. The hotel is housed in the historic Brown/Broadway Plaza building, originally constructed in 1929. There is a 650 square foot fitness center, 2,000 square feet of flexible event space, AC Kitchen, AC Lounge, and more. This is the second AC Hotel by Marriott to joinHE's portfolio of managed hotels. Raines announced the debut of two new DoubleTree by Hilton properties in South Carolina. The properties are located in Summerville and Greenville, with both of them undergoing renovations, including extensive upgrades to guestrooms, public areas, and food and beverage facilities to meet DoubleTree standards. Both hotels opened this month. The DoubleTree by Hilton Summerville Nexton has 95 keys, while the DoubleTree by Hilton Greenville Woodruff Road opened with 126 keys. IHG Hotels & Resorts, in collaboration with JSN, LLC, announced the opening of Garner Doswell Southeast in Doswell, Virginia. The newly converted hotel has 72 rooms and includes a fitness center, hot breakfast bar, and 24-hour market. Bloomberg reported that Japan's Seibu Holdings is close to signing a deal to acquire the eight-property Ace hotel brand from Ace Group International. The price tag is said to be as much as $85 million. JLL has been working with Ace to explore strategic options. Reset Hotel is a design-forward 65-room boutique property that debuted just minutes from the North Entrance of Joshua Tree National Park. The hotel is set on 180 acres of raw desert landscape in Twentynine Palms in California. RESET was co-founded by Adam Wininger, Shannon Ching, and Sumeet Parekh of HP Investors and designer Benjamin Uyeda. This is the first hotel to be built from the ground up in the high desert in over 15 years. Each of the 65 rooms features its own private patio, replacing traditional hotel corridors with open-air transitions and personal outdoor space. Fifteen of the rooms feature outdoor soaking tubs. The hotel includes an expansive 1,600 square foot saltwater pool and jacuzzi. There is also a 3,000-square-foot clubhouse featuring co-working space, a café, retail, a communal fire pit, a high desert bistro, saunas, cold plunges, yoga, breathwork, and other desert-inspired programming. Tampa-based investment firm Liberty Group has sold all the hotels in its portfolio, clearing the way for CEO Punit Shah to focus on operating his family office. This transition has been in the works since 2021, when Liberty outsourced the management of the hotels. Liberty Group was founded by Shah's father and at its peak had 5,000 hotel keys in 57 properties across Hilton, Marriott, and IHG brands. The portfolio included properties in Tampa, Fort Pierce, Cape Coral, Ormond Beach, and The Villages in Florida. There was no commentary in the article on this as to who Liberty sold the hotels to. Peachtree Group announced the launch of its Peachtree Special Situations Fund, a $250 million fund designed to unlock value in mispriced, high-quality hotel and other commercial real estate assets due to today's capital market illiquidity rather than underlying fundamentals. They expect the next 12 to 18 months to offer some of the most compelling risk-adjusted opportunities they have seen since the global financial crisis, with nearly $1 trillion in commercial real estate loans maturing this year. Hotels are seen carrying some of the largest refinancing and capital expenditure burdens, providing the opportunity for Peachtree's Special Situations Fund to step in where traditional capital has pulled back. The Fund targets investments that sit between value-add and opportunistic. Marcus & Millichap Capital Corporation said they arranged $8.4 million in financing for the Hampton Inn & Suites Orlando International Drive North, a 108-key hotel located in Orlando, Florida. M&M secured the financing with an investment bank on behalf of a private investment company, securing a non-recourse, full-term interest-only loan with an interest rate of 6.89%. HVS Brokerage & Advisory announced the sale of the 77-key Sonesta Essential Hotels Baton Rouge Airport in Baton Rouge, Louisiana. The hotel was built in 2000 and was bought by Brothers Hospitality Ltd, based in Sugar Land, Texas,from Hyde LLC, based in Baton Rouge. Newmark Lodging Capital Markets recently closed on the 96-key Station House Inn in South Lake Tahoe, California. Newmark brokered the transaction. CBRE Hotels announced it brokered the closed sale of the Residence Inn Alexandria Carlyle in Alexandria, Virginia. The seller was Magna Hospitality, and the buyer was T2 Hospitality in a fee-simple acquisition. Extended Stay America announced the launch of Client Connect, the first business travel program designed exclusively for extended stay business travelers. The new program brings together the company's comprehensive suite of business travel services under one unified program, offering personalized partnerships, competitive rates, and streamlined booking solutions. Client Connect leverages ESA's nationwide network of more than 700 locations, each featuring amenities designed for longer stays. Cronheim Hotel Capital secured $19.5M to refinance the Hilton in Hasbrouck Heights, New Jersey. The financing was secured from a bank and provided the Sponsor cash out proceeds, a floating rate with a spread in the mid-200's and no prepayment penalty. After a thorough renovation, Colony Club, a Luxury Collection Resort in Barbados, is set to welcome guests as of September 1, 2025. The beachfront reimagined retreat's renovations enhanced the resort's signature colonial charm while introducing new, elevated accommodations, refreshed culinary experiences, and reimagined wellness offerings. Personnel News Stéphane Maquaire has been appointed as the new President and Chief Executive Officer of Club Med Holding, succeeding Henri Giscard d'Estaing. Maquaire is expected to build on the current international expansion strategy while guiding the company to seize new opportunities in a fast-evolving travel and hospitality landscape. For context, read Skift's story. Global Highlights Preferred Hotels & Resorts announced the addition of 18 new member properties to its global portfolio. Ranging from a brand-new Texas Inn to a historic castle-turned-luxury-retreat in the Austrian Alps, each of these properties offers immersive, authentic experiences that encourage travelers to discover more extraordinary destinations across the globe. Highlights include: Amara Singapore – Lifestyle Collection; Castello di Velona Resort Thermal SPA & Winery – L.V.X. Collection; Green Pastures – L.V.X. Collection; Himalayas Hotel Shanghai – Lifestyle Collection; and Imlauer Hotel Scholoss Pichlarn – L.V.X. Collection. Europe Highlights Australian-based TFE Hotels will enter the UK market with the opening of two Adina-branded apartment hotels. The Hobson Cambridge by Adina and The Wellington Glasgow by Adina are scheduled to open in the third quarter of 2025. The 56-unit Hobson Cambridge is located in a former police station, while the Wellington Glasgow will offer 98 studio apartments, situated near George Square. This expansion marks TFE Hotels' first venture into the UK market, following its operations in Germany, Austria, Denmark, Switzerland, Hungary, Australia, New Zealand, and Singapore. Both UK properties are scheduled to open in the third quarter of 2025.
