The former Major League Baseball star Alex Rodriguez, and his partner, serial investor Adi Chugh who is also founder of Maverick CP, are among the first investors in CGI Merchant Group's new $650 Hospitality Opportunity Fund.

A-Rod Corp and Maverick CP joined forces earlier this year to expand their portfolios and build a large commercial real estate platform across various asset classes. As part of the agreement, Rodriguez and Chugh will assist in the acquisition of trophy investments for the hospitality fund as well as promote the firm's co-investment platform and its flexible and multi-use office portfolio.

"CGI's visionary and conscious approach to business has the potential to transform the commercial real estate industry, bringing in untapped voices that can inject new energy and ideas to ignite vast opportunities," said Rodriguez.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.