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Investment veterans launch real estate, hospitality buyout vehicle

From Reuters - November 9, 2017

NEW YORK (Reuters) - The former chairman of fund manager Man GLG and the ex-president of Vornado Realty Trust are behind a buyout vehicle that will seek deals in the real estate and hospitality sectors, according to marketing materials seen by Reuters on Thursday.

Landscape Acquisition Holdings Limited, a special purpose acquisition , or SPAC, is raising $500 million through an initial public offering and will focus primarily on North America and Europe.

The duo behind Landscape are Noam Gottesman and Mike Fascitelli, who both have extensive experience in investing in their target industries.

Gottesman co-founded investment manager GLG Partners in 1995, which was sold to Man Group in 2010 for $1.6 billion. Since then, he has made a number of restaurant investments, including in Eleven Madison Park in New York City.

He also founded another SPAC, Nomad Foods, which in 2015 bought Iglo Group for $2.8 billion. At the time, it was Europes largest frozen foods business.

Fascitelli was president of Vornado for 16 years until 2013, during which time the real estate investment trust grew into one of the most significant owners of property in Manhattan. Its current portfolio includes buildings in San Francisco and Chicago, according to its website.

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