Port Louis, Mauritius, October 2015: Adenia Partners, a private equity firm investing in Sub-Saharan Africa, has exited its investment in Hôtel du Louvre, a flagship business hotel located in Antananarivo, the capital city of Madagascar, to a group of local investors.
During the life of this investment, Adenia Partners transformed the formerly 2-star hotel into a 4-star hotel with 78 rooms and a solid international corporate client base. With significant upgrades to the building, amenities and staff training and engagement, Le Louvre has become the marquee business hotel in Antananarivo. The original investment was structured through Adenia Capital (I), Adenia Partners’ first fund. With this final disposal, Adenia Partners has fully exited all 6 investments in Adenia Capital (I).
