Convene Hospitality Group (CHG) has secured $230 million in strategic growth capital to support expansion across its meetings, events and hospitality brands.
The funding includes backing from new lender TPG alongside additional equity investment from existing shareholders, including Ares funds.
CHG said the capital will be used to support new venue development, invest in technology and production capabilities, and pursue selective acquisitions as it grows its global portfolio.
The group, founded in 2009, operates brands including Convene, etc.venues and NeueHouse, and is also preparing to launch two new event venues in New York this autumn: The Mallory and The Aperture.
A new Convene venue at 555 Broadway in SoHo is also due to open next month in the former Scholastic building. These follow the opening of Convene 30 Hudson Yards (pictured above) last September, the brand’s largest venue in New York City.
Ryan Simonetti, CEO and co-founder of CHG, said the investment would support the company’s next phase of growth as demand continues to evolve across meetings, conferences and experiential events.
He said: “This capital allows our house of brands to expand through strategic market growth and thoughtful mergers and acquisitions.”
CHG describes itself as the largest provider of dedicated meetings and event venues in the US and UK, with the business increasingly focused on growth across flexible event space, hospitality and premium experience-led venues.