Decorated professional boxer and businessman Floyd Mayweather has joined former Major League Baseball star Alex Rodriguez as an investor in CGI Merchant Group's $650 million Hospitality Opportunity Fund.
The Miami-based global investment management firm's portfolio includes The Gabriel South Beach and The Gabriel Downtown in South Florida. The group is also seeking to purchase the Trump International Hotel in Washington, D.C. for $375 million.
The new platform-level investment partnership will be open to other athletes, celebrities and select family offices and aims to deploy over $250 million into commercial real estate assets, inclusive of CGI's flagship Hospitality Fund or H-Fund and other CGI investment vehicles with a wide spectrum of real estate strategies and asset classes, including hotel, office and private credit, the firm announced.
"I've long admired Floyd Mayweather for being one of the world's greatest professional athletes and for his incredible business instincts," CGI Founder and CEO, Raoul Thomas, said in a statement. "The CGI family is honored to welcome him and we look forward to working together to foster a steadfast and sustainable approach to commercial real estate investing."
"Over the years, Mayweather's savvy investment decisions have made him a notable figure in business fueled by the desire to create a platform of financial independence for the people and communities around him, this desire is directly aligned with my own vision for CGI to be a vehicle for this type of change," added Thomas.
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