Leisure & Attractions
Passive capital in experiential real estate. We invest alongside proven operators in family entertainment centers and leisure destinations — backing the people who run them best.
Capital, not control
Family Entertainment Centers are operationally demanding businesses. Running one well requires specialist expertise in programming, safety, staffing, and guest experience — a discipline distinct from property investment.
Our position here is deliberate: we invest as a limited partner, not an operator. We bring capital and underwriting rigor to opportunities led by established FEC operators, and we let them do what they do best. Knowing where our edge ends is part of how we protect returns.
Image placeholder — entertainment venueSourcing & Selection
Every investment starts with the operator, not the asset. We evaluate the team before we evaluate the building — because in experiential real estate, execution is the return driver.
- 01Operator diligence — we back teams with a demonstrated track record, not concepts.
- 02Market screening — catchment demographics, competition density, and accessibility.
- 03Deal access — participating in opportunities through established sponsor relationships.
Image placeholderUnderwriting
Conservative modeling built around the realities of the sector — seasonality, throughput ceilings, and the capital intensity of keeping an attraction current.
- 01Financial modeling — conservative assumptions on footfall, seasonality, and secondary spend.
- 02Structure & terms — clear alignment on economics, governance, and exit.
- 03Risk assessment — regulatory, insurance, and capital expenditure exposure.
Image placeholder — reporting dashboardMonitoring & Reporting
Active oversight without operational interference. We track performance against underwriting and hold the same reporting standard for our co-investors that we expect for ourselves.
- 01Performance oversight — tracking against underwriting, without operational interference.
- 02Transparent reporting — the same visibility we expect for ourselves, extended to co-investors.
- 03Exit discipline — realizing value at the right point in the asset's cycle.
Why experiential assets
Footfall that can't be delivered to your door. Traditional retail property faces structural pressure from e-commerce. Experiential real estate is one of the few categories where digital growth increases demand rather than eroding it — people still want somewhere to go.
How we work
Source
Opportunities surfaced through established sponsor and operator relationships.
Diligence
The operator comes first — track record, team, and operating history.
Underwrite
Conservative modeling and clear terms before capital is committed.
Invest
Participating as a limited partner with aligned economics.
Monitor & Exit
Oversight against plan, and disciplined realization at the right point.