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Shuaa Partners have completed the sale of its entire stake in Rotana Hotel Management Corporation to Rotana Chairman Nasser Al Nowais, the company said in a statement.
Shuaa Partners is the private equity branch of Shuaa Capital.
The fund made the investment in 2006 through private placements to fund Rotana’s rapid expansion.
Rotana is an anchor investor in the Shuaa Hospitality Fund I. “This transaction does not impact the relationship of these two funds with Rotana,” Shuaa said in a statement.
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The terms of the sale have been kept confidential.
Including this exit, Shuaa Partners Fund I has generated a gross internal rate of return of 36% and a multiple of 1.95x on its realised investments.
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