The largest provider of dedicated meetings and event venues in the US and UK, Convene Hospitality Group (CHG) has announced it has secured $230m in strategic growth capital to accelerate global expansion. The new funding is provided by TPG, a global alternative asset management firm, as well as additional equity investment from current shareholders, including Ares funds. A portion of the capital will be deployed toward new development; technology and production capabilities; and selective acquisitions to further scale the platform.
The group’s current brands include Convene, etc.venues, NeueHouse and several special event venues in the US and Europe.
“The way the world works, meets and gathers has significantly evolved since we debuted in 2009, and we’re blurring the lines between hospitality and traditional events to meet that shift,” said Ryan Simonetti, president and CEO of CHG.” He added: “This capital allows our house of brands to expand through strategic market growth and thoughtful mergers and acquisitions.”
CHG said it would leverage the fresh investment to expand into new markets, scale its brands, and pursue strategic acquisitions.
“Since Ares’ initial investment in 2022, we have worked closely with Ryan and his exceptional team to support their strategic vision for CHG as an industry leader and innovator,” said Brad Friedman, partner at Ares. “This latest investment reflects our strong conviction in the business and the exciting opportunities ahead, and we look forward to supporting CHG as it continues to differentiate itself with the premium spaces, experiences and talent that clients seek.”
“We’re excited to partner with Convene Hospitality Group’s exceptional management team and existing investors to support their next phase of global growth,” said Jake Gladstone, partner and co-head of research for TPG Credit Solutions. “Our investment underscores our confidence in CHG’s proven multi-brand strategy and its ability to meet the growing demand for high-quality, flexible meeting and event spaces globally, solidifying their leadership in the evolving hospitality market.”
Anticipated New York City openings in 2026 include a Convene in the Scholastic Building in SoHo as well as the launch of The Aperture and The Mallory as immersive event venues.
Moelis & Company LLC acted as exclusive placement agent for CHG in this transaction.
