On May 22, Gremi International SARL signed a contract with the Portuguese company IM Gestãode Ativos – Sociedade Gestora de Organismos de Investimento Coletivo, SA, (IMGA). Under this agreement Gremi in cooperation with IMGA will create a private equity fund under the name Almond Tree Private Equity Fund – FCR, which will invest in hospitality real estate projects.

IMGA is one of the pioneers in the management of Portuguese investment funds (registration number 184 in the CMVM). The Company started its activity in 1989. It is currently the 3rd largest fund management company in Portugal with around €2,3 Billionunder management in 29 funds and management capabilities across a variety of asset classesand regions.