Chicago investor finds India route

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Equity International (EI), an institutional investment management company based in Chicago, has invested US$75 million in Indian hospitality company SAMHI Hotels. The investment, EI’s first in India, was made by EI’s Singapore operating company.

EI was represented in India by J Sagar Associates and in the US by Sidley Austin. Economic Laws Practice acted as legal adviser to SAMHI.

Established early this year, SAMHI is co-sponsored by GTI Capital Group, a privately held investment firm founded by Gaurav Burman, Gaurav Dalmia, Jonathan Schulhof and Madhav Dhar.

SAMHI has a joint venture with Marriott International to launch the Fairfield by Marriott brand for business travellers in India. The venture is expected to create 2,500 guest rooms and around 15 moderate-tier hotels in Bangalore, Chennai and Hyderabad by 2015.

EI targets the homebuilding, retail, warehousing, distribution, office, hospitality, senior living and specialty finance sectors. Its portfolio of investments reflects its desire to focus on opportunities in emerging markets. The company has projects in Argentina, Australia, Brazil, Chile, China, Colombia, Mexico, New Zealand, Peru, Spain, the UK, Uruguay and Venezuela.

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