FCPR Extend Sunny Oblig et Foncier

Extendam-managed hospitality private equity FCPR taking equity stakes in unlisted European SMEs that own both the walls and the operating business of city-centre and tourism hotels. Value is created operationally, acquisition, renovation, repositioning and management optimisation. A hors-quota pocket of up to 50% of net assets, in listed euro bonds held to maturity, provides carry and liquidity.