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Timeline: Citywest Hotel 2013: Nama sold to Tetrarch/PIMCO for €29m 2015: Hotel makes profit of €1.55M. 2018: Starwood Capital gives €60m loan to Tetrarch to buyout PIMCO 2019: Starwood entered extended talks take Tetrarch public. 2021: Govt. awards COVID contract to Tetrarch worth €22.8M 2021 to 2024: Govt. awards Asylum Contract worth €150 million 2024: Tetrarch and Starwood in talks on separate deal at Elm Green 2025: Govt. to buy Citywest back for €148 milli Question: Who are the beneficial owners of Tetrarch ICAV?? Did Starwood’s loan agreement contain an equity clause? (this would be standard)
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