Institutional Giants TPG and Ares Lead $220M Investment in Convene Hospitality Group

Convene Hospitality Group secures $220M from TPG and Ares to expand its global event spaces and integrate the recently acquired NeueHouse social club brand.

By: AXL Media

Published: Mar 26, 2026, 11:28 AM EDT

Source: Bisnow

Strategic Capital for Global Expansion

The $220 million investment marks a milestone for Convene Hospitality Group, bringing TPG onto the cap table for the first time. Current backers, including funds associated with the $623 billion alternative credit firm Ares Management and Canadian real estate giant Brookfield, also participated in the round. This fresh liquidity arrives at a critical juncture as CHG integrates its diverse portfolio of 38 locations across the United States and the United Kingdom.

CHG’s immediate growth strategy focuses heavily on the Manhattan market, with three new venues slated to open this year. These include a 450-person conference center in SoHo’s Scholastic Building and two immersive event spaces, "The Aperture" and "The Mallory," which will feature cutting-edge projection mapping capabilities. By expanding its physical footprint, CHG aims to capture a larger share of the rebounding premium meeting market.

Integrating the NeueHouse Acquisition

A primary driver for this fundraise is the operational integration of NeueHouse, the members-only social and coworking club that CHG acquired out of Chapter 7 bankruptcy in January 2026. NeueHouse, once a darling of the "lifestyle workspace" sector, struggled with solvency before shuttering its locations last September. CHG’s takeover of the intellectual property and the 115,000-square-foot Madison Square flagship represents a strategic play to "blur the lines" between traditional corporate events and exclusive social hospitality.

TRANSFORMATIVE ANALYSIS: This acquisition and subsequent funding signal a major shift in the "office-as-a-service" sector. While traditional coworking has faced significant headwinds, the "private social club" model is seeing a resurgence. By absorbing NeueHouse, CHG is positioning itself as a vertically integrated hospitality provider that can offer everything from a two-person board meeting to a 1,500-guest gala, all within a high-design, member-centric ecosystem. This model competes directly with traditional luxury hotels and high-end coworking operators.