Italian private equity group bolsters Paris office

Wizard Partners has appointed Francesco Noseda as managing partner to head up a team of four in its recently established Paris office.

Previously, Noseda was senior vice-president of development for Swissôtel in New York, after a spell prior to that he was with the Méridien Hotels. In this latest role, Noseda will primarily manage Wizard Partners’ hotel deals, according to eFinaincial News.

The total value of the hotels Wizard Partners will invest in over the coming months will be around €330m, of which €150m will be equity. The fund is focused on hotels with between 25 and 80 rooms, in properties of historic or artistic value. The Hang Lung Group, the Hong Kong based real estate investment group listed on the Hang Seng index, is a major investor in the fund.

To date, Wizard Partners has invested around €120m in a number of industrial companies across Italy, Sweden, Germany and Switzerland. These companies make packaging machinery, food processing machinery, and air conditioners.