Brilla Group, a U.S.-based private equity firm focused on luxury beachfront hotel and resort assets in South Florida, the Caribbean, Mexico, Central America and Colombia, has achieved a first closing on its Colombian Beachfront Hospitality Private Equity Fund. The fund has raised US$30 million in commitments to date from Colombian institutions including Bancoldex and local pension funds. The fund is a local vehicle regulated by the Colombian Financial Superintendent and is the first private equity fund in the country dedicated exclusively to luxury hospitality assets.