Partners Group founder Urs Wietlisbach has made a major investment in the Alpine resort of Egyptian real-estate tycoon Samih Sawiris. The investment comes at a crucial time.
Andermatt Swiss Alps (ASA), a real-estate firm controlled by Samih Sawiris, sold a property portfolio worth 50.5 million Swiss francs to Taurus Andermatt, according to a statement released on Thursday. The package includes five penthouse apartments in the luxury hotel The Chedi Andermatt, as well as 20 condominiums.
Taurus Andermatt is controlled by investment company WieInvest, which in turn belongs to Urs Wietlisbach. Sawiris is also listed as a minority shareholder.
A «Strong Signal»
«The participation of Urs Wietlisbach is a strong signal for Andermatt,» said ASA CEO Franz-Xaver Simmen. Wietlisbach is apparently reckoning on a long-term and steady increase in the value of the Andermatt properties, driven by demand for homes in the holiday village.
Andermatt Swiss Alps will use the proceeds from the portfolio sale to finance holiday village Andermatt Reuss, according to the statement. Sawiris can certainly use the money. Last year, ASA posted a «budgeted» loss of 29.8 million francs.
Fintech Investor
Wietlisbach hasn’t been active at the private equity firm Partners Group for some time now, but retains a seat on the board. He holds 10 percent of Partners Group shares, worth about 1.8 billion francs.
The billionaire doesn’t just confine his activities to the property sector. He is also involved in fintech as a risk capital provider. He for example funded pre-financing specialist Advanon or to digital asset management platform Nectar Financial.
