Convene secures $230M to grow platform

NEW YORK CITY — Convene Hospitality Group (CHG) has secured $230 million in strategic growth capital to accelerate global expansion across its multi-brand platform.

The latest funding is provided by a new lender, San Francisco and Fort Worth, Texas-based TPG, as well as an 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 its platform.

CHG said it has carved out a unique position in the meetings and events industry and branched into boutique hospitality. As the largest provider of dedicated meetings and event venues in the U.S. and U.K., CHG said it will use this investment to expand into new markets, scale its brands and pursue strategic acquisitions.

Earlier this year, Convene completed its acquisition of NeueHouse, founded in 2011 as a collaborative alternative to coworking spaces and social clubs. CHG acquired the brand's intellectual property and the operations of the NeueHouse Madison Square location in New York City. There are no current plans to reopen NeueHouse’s Los Angeles locations.

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.

“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, CEO and co-founder of CHG. “Our clients expect a high level of service, design and production capabilities, whether we’re partnering on a corporate conference or delivering a one-of-a-kind experience in a special event space. This capital allows our house of brands to expand through strategic market growth and thoughtful mergers and 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 its leadership in the evolving hospitality market.”