Part 3
Transaction execution, capital administration, platform build and standing governance, running from the first close onward.
Commercials to be defined and agreed before Part 2 completes
22 service lines across 4 sections
Executive Summary
Part 3 is the build, in which each acquisition is underwritten on the programme model, taken through committee, negotiated on forward purchase terms and then managed from exchange through to completion.
Capital administration runs alongside the transactions and covers subsequent drawdowns, co-investment allocations, facilities for each wave of assets and the ongoing management of covenants, reporting and hedging.
The platform itself is created over the same period through the brand launch, the membership technology, founder member pre sales, hotel and rental management agreements, pre opening control and certification evidence, all of it conducted under board, limited partner and annual strategy governance.
Scope of Services
3A
6 lines
Underwriting of each acquisition introduced by the client and its partners on the programme model.
Underwriting per dealPreparation of investment committee papers with recommendation.
Committee papersNegotiation of forward purchase price, discount, developer covenants and security.
Commercial termsNegotiation of the licence to operate, delay and quality protections.
ProtectionsManagement of diligence across technical, legal, tax and insurance workstreams.
DiligenceManagement from exchange through to completion on each transaction.
Completion3B
4 lines
Administration of Tranche 2 and subsequent drawdowns with notices and consents.
DrawdownsAdministration of co-investment allocations.
AllocationsExecution of debt facilities for each wave.
Facilities per waveOngoing covenant, reporting and hedging management across the loan book.
Loan book management3C
9 lines
Oversight of the agency programme through to brand launch against the Part 1 strategy.
Brand launchSelection of the membership and access platform vendor.
Vendor selectionOversight of the platform build to launch.
Platform liveStructuring of founder member pre sales in the flagship cities including deposit handling.
Pre sales structureNegotiation of hotel management agreements.
Hotel agreementsNegotiation of rental management agreements.
Rental agreementsAgreement of pre opening budgets with critical path oversight into each opening.
Pre opening controlMaintenance of certification evidence packs per asset.
Evidence packsCompliance reporting under the green financing framework.
Compliance reporting3D
3 lines
Preparation of board papers to the agreed calendar.
Board papersLimited partner reporting.
LP reportingFacilitation of the annual strategy refresh.
Strategy refresh