Convene Hospitality Group raised $220M from a group led by institutional capital just months after the premium event and meeting space provider acquired NeueHouse, a defunct members-only social club.
Institutional giant TPG is making its first investment in CHG along with equity from current shareholders, including funds associated with alternative credit firm Ares Management. The capital will be deployed for new development, selective acquisitions and investments in technology and production capabilities.
Source: Institutional Investors Bet On Exclusive Event Spaces With 0M Convene Fundraise