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Article: Oak Hill Capital Partners Announces First Investment -- Joint Venture With MeriStar Hotels & Resorts and MeriStar Hospitality.
- Article from:
- Business Wire
- Article date:
- April 1, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK and FORT WORTH, Texas--(BUSINESS WIRE)--April 1, 1999--Oak Hill Capital Partners, L.P., a newly formed $1.5 billion private equity partnership sponsored by Robert M. Bass and his team of investment professionals, today announced its first investment, a $400 million joint venture with MeriStar Hospitality Corporation (NYSE: MHX), the nation's third-largest hotel real estate investment trust (REIT), and MeriStar Hotels & Resorts, Inc. (NYSE: MMH), the nation's largest independent hotel-management company.
MeriStar Investment Partners, the new investment partnership, anticipates acquiring a total of 12 to 15 hotels over the next year. The investment ...