Soho House was reported to have secured a $100m investment, led by the group’s largest investor, Rob Burkle.
The news came as the company was linked to a possible site for its Soho Farmhouse rural retreat brand in the US, north of New York.
The fund raising followed another $100m raised in October through the sale of a 5% stake to Simon Property Group and Raycliff Capital.
Prior to the deal Soho House had mooted an IPO last year, with founder Nick Jones also thought to be considering selling part of his stake. Richard Caring held 30% and Rob Burkle’s Yucaipa the remainder, which it acquired in 2012 for £250m. The group was most-recently valued at $2bn.
Soho House has 23 clubs around the world, opening its first in Asia, in Mumbai, in 2018. The company has aspirations to open four to five a year and, since its growth has accelerated, has been working with property developers on new projects and moving away from the owner-operator model to focus on operating.
In April 2017 the group signed an agreement with Permira Debt Managers to refinance its existing debt and support future growth. The key elements were: a £275m, senior secured loan with a five-year maturity from closing at Libor +7%, a further £100m of available financing to drive further global expansion of the business on the same terms and renewal of its revolving credit facility of £30m plus GBP5m accordion for four-and-a-half years.
Earlier this month the company was thought to be considering the town of Rhinebeck, 100 miles north of Manhattan in upstate New York, as a possible site for a Soho Farmhouse.