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19 Mar, 2016

U.S. hospitality workers union releases list of responsible, irresponsible private equity, real estate managers

CHICAGO–(BUSINESS WIRE)–March 17, 2016 – In recent years, private equity and private equity real estate managers have raised record amounts of capital from pension funds, foundations, endowments, and other institutional investors to back big hotel and casino investments and the growing hospitality industry. Now UNITE HERE, the union of hospitality workers throughout North America, is releasing an updated List of Responsible and Irresponsible Private Equity Managers in the Hospitality Industry to help staff and trustees of pension funds and other institutional investors make smart decisions.

The list is available below and at www.PECloserLook.org.

UNITE HERE created this list to help pension funds and other institutional investors identify socially responsible investment partners and steer clear of private equity managers with labor disputes that could impact their returns. Staff and trustees of pension funds nationwide manage more and $5 trillion and are the largest investor group in private equity. In creating the list, UNITE HERE analysts used several criteria to evaluate private equity managers, including responsiveness to outreach, labor disputes at hospitality properties or portfolio companies, and track record of ensuring labor peace at hospitality properties or portfolio companies.

Responsible         Irresponsible
Rockpoint Group         Walton Street Capital
Angelo, Gordon & Co         Ares Management
Blackstone Group         Lone Star Funds
CIM Group         Carlyle Group
Apollo Global Management         Prudential
PCCP LLC         KSL Capital
Stockbridge Capital         Garrison Investment Group
AFL-CIO BIT/ HIT         Olympus Partners
HEI Hotels & Resorts         Cornerstone RE Advisers/ Baring Asset Management
Kennedy-Wilson Cos         Northwood Investors
UBS Realty         Clarion Partners
Westbrook Partners         Dune Capital
Lowe Enterprises         Starwood Capital
Intercontinental Real Estate         AEW Capital Management
          Yucaipa Cos
          TPG Capital
          Leonard Green & Partners

Responsible managers above are managers that have reached an agreement ensuring labor peace at hospitality-related properties or companies, creating a basis for cooperation.

Irresponsible managers above are managers that have refused multiple requests to meet, have refused to identify places to work together, or have had a long-standing, unresolved dispute at a hospitality-related property or portfolio company.

UNITE HERE is the union of hospitality employees throughout North America


UNITE HERE, Jim Baker, 312-933-0230, jbaker@unitehere.org