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Aimbridge Hospitality Launches New Sponsor Fund with Argonaut Private Equity
Collaboration will provide Aimbridge with $1 billion total acquisition capacity
Dallas – June 01, 2010 – Dallas-based Aimbridge Hospitality, an experienced hotel management and market-positioning maverick, announces its venture partnership with Argonaut Private Equity, a private equity and venture capital firm specializing in growth capital, middle market, early venture, mid venture, late venture, turnaround and buyout investments. Through this partnership, Aimbridge is given $1 billion of total acquisition capability.
Aimbridge Hospitality is a hotel real estate and management company created to identify management opportunities throughout the United States focusing on hotels in suburban markets. Aimbridge provides management, asset management, capitol renovation supervision, accounting and consulting services for its strategic partners.
"We are privileged to align with Argonaut Private Equity, and we feel that this valuable partnership will ensure that Aimbridge is positioned in a way to take full opportunity of the impending optimistic cycle in real estate," said Dave Johnson, President and Chief Executive Officer of Aimbridge Hospitality. "The growth we've achieved is a testament to Aimbridge Hospitality's effectiveness as an operator and the value of our relationships with capital and brand partners."
Argonaut Private Equity, founded in 2002 and based in Tulsa, Oklahoma, is dedicated to building emerging market leaders. With more than $2 billion under management provided by a single entrepreneur, Argonaut is uniquely positioned to assist entrepreneurial companies like Aimbridge Hospitality.
"Our partnership with Aimbridge Hospitality and the resulting $100 million co-investment fund is an excellent vehicle for our entry into hotel investments," said Steve Mitchell, Managing Director of Argonaut Private Realty. "We are thrilled to partner with Aimbridge with their exceptional track record and experience in the hospitality industry."
The new partnership between Aimbridge and Argonaut positions Aimbridge for growth with the "co-investment" sponsor fund; allowing Aimbridge to invest with Argonaut along with current and/or potential future investors in forthcoming deals.
"Aimbridge Hospitality is an outstanding hotel management company with excellent leadership. We are privileged to have them as a partner in this venture," said Jim Carreker, Principal of Argonaut.
For more information on Aimbridge Hospitality, please visit the company's Web site at www.aimbridgehospitality.com.
ABOUT AIMBRIDGE HOSPITALITY
Aimbridge Hospitality is one of the nation’s leading independent hotel investment and management firms with a proven track record for delivering superior returns for its strategic partners in a variety of markets and economic cycles. Aimbridge provides management, asset management, development, renovation and consulting services. Based in Dallas, Texas, Aimbridge currently owns and/or manages 52 upscale, independent and branded hotels with nearly 11,000 rooms across the United States, including such affiliations as Marriott, Hilton, Embassy Suites, DoubleTree, Hilton Garden Inn, Hampton Inn & Suites, Aloft, Hyatt, Wyndham and the Phoenix Inn Suites chain of hotels. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com.