Convene Hospitality Group Raises $230M

Convene Hospitality Group secured $230 million in strategic growth capital, convene announced securing capital to fund growth and expansion.

Operates across 38 global locations, convene operates a multi-brand portfolio including Convene and etc.venues.

Will deploy a portion of the capital toward new development, technology and production capabilities, and selective acquisitions, part of the funding will be used for development, technology, and acquisitions.

TPG provided part of the $230 million as a new lender, tPG provided the latest funding as a new lender.

Ares made an additional equity investment as a current shareholder, current shareholders increased their investment and are named in the release.