Gránit Asset Management’s Largest Real Estate Fund Expands With International Investment

The Magyar Posta Takarék Real Estate Investment Fund (MPTIA), managed by Gránit Asset Management, has invested EUR 10 mln in the Limestone Capital-managed “Amethyst Fund II SCSp”.

This investment into the Luxembourg-registered real estate fund marks the first international position in MPTIA’s portfolio, further strengthening the fund’s diversification and competitiveness.

Limestone Capital is a leading Swiss-based private equity firm specializing in the experience economy, with a focus on private equity, private credit, and special opportunities.

With over EUR 1 billion in assets, Limestone’s portfolio includes hospitality platforms such as Aethos Hotels, Emerald Stay, and Voaara, as well as prime real estate in key European locations like London, Madrid, Milan, and Sardinia. These investments have garnered recognition in major publications like Architectural Digest, Bloomberg, Condé Nast Traveler, Financial Times, Forbes, and Vogue.

MPTIA’s real estate portfolio has previously consisted of office, logistics, retail, and residential properties in Hungary. This investment is part of the fund’s international diversification strategy; while MPTIA’s money market instruments have already included foreign currency-based investments, this is its first international real estate asset.

“This investment not only generates returns but also integrates valuable experience and international expertise into MPTIA’s operations. Through Limestone Capital’s successful real estate strategy, we are not only investing in a valuable asset but also gaining access to the portfolio management of a hotel portfolio whose know-how can provide a long-term competitive advantage for the fund,” said Álmos Mikesy, chairman of the Board and CEO of Gránit Asset Management.

Benjamin Habbel, CEO and co-founder of Limestone Capital, on MPTIA’s investment into Amethyst Fund II: “We are thrilled to welcome Gránit Asset Management as an investor in Amethyst Fund II. This partnership reflects the growing global confidence in our investment strategy, which focuses on creating long-term value in the hospitality and real estate sectors. Gránit’s commitment to international diversification aligns perfectly with our vision, and we look forward to leveraging our expertise to deliver strong returns and strategic advantages for all stakeholders.”

Although the investment represents a smaller weight compared to MPTIA’s net asset value of nearly HUF 330 bln, the Asset Management Company expects that this step will contribute to the fund’s competitiveness, uniqueness, and return performance in the domestic real estate fund market in the long term.