(Bloomberg) -- Private equity firm Partners Group Holding AG has shown initial interest in Hamilton Island as the family owners of the holiday destination in Australia conduct a strategic review for the asset, according to people familiar with the matter.
Any deal would mark a new era for Hamilton Island, an icon of Australian tourism that was developed into a resort in the 1980s. The island comprises hotels and holiday homes as well as a golf club and a commercial airport, its website shows. It’s the only major developed island in the Great Barrier Reef. It costs about A$16 million ($10 million) a year to maintain the resort’s utilities and infrastructure including its own power house, dams and a reverse osmosis plant, according to a company fact sheet.Source: https://finance.yahoo.com/news/partners-group-shows-initial-interest-070505223.htmlThe buyout firm is studying the resort island for a potential bid, said the people, who asked not to be identified as the information is private. Partners Group and the Oatley family, who own Hamilton Island, have held preliminary discussions, the people said.
There’s no guarantee that a deal will happen and the Oatley family may decide to keep the assets for longer after a strategic review, the people said. There are also other parties potentially interested in the resort, they added.
Representatives for Partners Group and Oatley family’s investment office declined to comment.