Moran Bewleys Hotel Group sale Los Angeles hedge fund scoops €68m

Tom Moran, founder of the Moran Bewleys Hotel Group Picture: Tony O’Shea

Canyon Capital Advisors, a Californian hedge fund, has emerged as the major winner from the sale of the Moran Bewleys Hotel Group, netting a staggering €68 million profit from a €112 million investment.

The Los Angeles fund held 40 per cent of the debt attached to the Moran Bewleys Group, having acquired loans from Lloyds and Ulster Bank at a sharp discount.

The ...