CONVENE HOSPITALITY GROUP SECURES $230 MILLION OF STRATEGIC GROWTH CAPITAL

Convene Hospitality Group (NYSE:ARES) secured $230 million in strategic growth capital on March 24, 2026 to accelerate global expansion across its multi-brand hospitality platform.

Rhea-AI Summary

Convene Hospitality Group (NYSE:ARES) secured $230 million in strategic growth capital on March 24, 2026 to accelerate global expansion across its multi-brand hospitality platform. The financing includes credit from TPG and additional equity from existing shareholders including Ares funds. Funds will support development, technology, production and selective acquisitions, and CHG plans new New York openings in 2026.

Positive

• $230 million of strategic growth capital secured
• New lending relationship with TPG plus equity from Ares funds
• Capital earmarked for development, technology, production and acquisitions
• Planned New York 2026 openings including Scholastic Building Convene and two immersive venues
• Reinforces CHG's position as largest dedicated meetings/event provider in US and UK

Negative

• None.

Argus Mar 24 session

-1.01% close to close Open Argus

Details

News Market Reaction – ARES

On Mar 24, the day this news came out, ARES closed 1.01% below the previous close.

Data tracked by StockTitan Argus for the Mar 24 session.

Key Figures

Strategic growth capital: $230 million Record Q4 originations: $19.4 billion Full-year 2025 originations: $55.0 billion +5 more

Strategic growth capital

$230 million

Capital secured by Convene Hospitality Group with Ares funds participation

Record Q4 originations

$19.4 billion

U.S. direct lending originations closed in Q4 2025

Full-year 2025 originations

$55.0 billion

U.S. direct lending originations for 12 months ended Dec 31, 2025

European CLO II size

over €300 million

EDL CLO II holding loans to 70+ Western European companies

Continuation vehicle

$850 million

Single-asset continuation vehicle for Convergint commitments

AUM

$622.5 billion

Assets under management as of Dec 31, 2025 (10-K filing)

Capital raised 2025

$113.2 billion

New capital raised across more than 190 vehicles in 2025

Capital invested 2025

$145.8 billion

Global capital invested during 2025 per annual report

Historical Context

5 past events · Latest: Mar 02

5 events

1. Mar 02

   Continuation vehicle

   24h Move

   -0.6%

   Closed single-asset continuation vehicle with about $850M of commitments.

2. Feb 25

   Conference appearance

   24h Move

   -0.9%

   CEO scheduled to present at 2026 RBC Capital Markets financial conference.

3. Feb 19

   CLO pricing

   24h Move

   -3.1%

   Priced second European Direct Lending CLO II at over €300M.

4. Feb 18

   Solar projects

   24h Move

   +2.7%

   Rooftop solar projects on Ares real estate under Austin Energy program.

5. Feb 05

   Origination record

   24h Move

   -11.2%

   Reported record U.S. direct lending originations for Q4 and full-year 2025.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Capital to Accelerate Global Hospitality Platform Expansion

NEW YORK, March 24, 2026 /PRNewswire/ -- Convene Hospitality Group (CHG), the leading global hospitality platform at the intersection of corporate conferences, meetings and experiential events, today announced that it has secured $230 million in strategic growth capital to accelerate global expansion across its multi-brand platform. The latest funding is provided by new lender, TPG, a leading global alternative asset management firm, 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 the platform.

"This capital allows our house of brands to expand through strategic market growth and mergers and acquisitions."

The financing comes on the heels of a new chapter for the industry pioneer as it integrates and scales a growing house of leading hospitality brands including Convene, etc.venues, NeueHouse and several special event venues, delivered by an expanded team of hospitality talent.

"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."

CHG has carved out a unique position in the expanding meetings and events industry, branching into boutique hospitality with an eye on impactful design, performance-focused operations, human-centered service, state-of-the-art production capabilities and seasonal chef-driven cuisine. As the largest provider of dedicated meetings and event venues in the US and UK, CHG will leverage this 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 featuring advanced projection mapping capabilities and a flexible canvas for the city's most noteworthy experiences. Moelis & Company LLC acted as exclusive placement agent for CHG in this transaction.

About Convene Hospitality Group: 
Convene Hospitality Group (CHG) is the global leader in hospitality-driven destinations, operating a premier portfolio that includes the Convene and etc.venues brands. As the largest provider of dedicated meeting and event spaces in the U.S. and UK, CHG leverages 45+ years of expertise to transform traditional commercial real estate into high-value lifestyle assets across 38 global locations. Backed by investors including Ares and Brookfield, the award-winning group is dedicated to creating dynamic spaces and human-focused experiences that bring people together. Learn more at convenehospitality.com.

About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2025, Ares Management Corporation's global platform had nearly $623 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit  www.aresmgmt.com.

About TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $303 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.

Media Contacts
Convene Hospitality Group
press@convenehospitality.com

Ares
media@aresmgmt.com

TPG
media@tpg.com

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SOURCE Convene Hospitality Group

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Convene Hospitality Group (ARES) announce on March 24, 2026?

Convene announced it secured $230 million in strategic growth capital to fund expansion efforts. According to the company, the financing combines new credit from TPG with additional equity from existing shareholders including Ares funds to support development, tech, production and selective acquisitions.

Who provided the $230 million financing for Convene Hospitality Group (ARES)?

The financing was provided by new lender TPG and additional equity from existing shareholders including Ares funds. According to the company, TPG supplied credit while current investors increased equity to back CHG's multi-brand growth strategy.

How will the $230 million capital be used by Convene Hospitality Group (ARES)?

Funds will be deployed for new development, technology and production enhancements, and selective acquisitions. According to the company, capital is intended to scale the multi-brand platform and expand market presence in the US, UK and new target markets.

Does the financing affect Convene's planned New York openings in 2026 (ARES)?

Yes; the company expects to advance New York expansion with 2026 openings including a Convene in the Scholastic Building in SoHo. According to the company, The Aperture and The Mallory will launch as immersive event venues featuring advanced projection mapping.

What strategic impact does the $230 million deal have for Convene Hospitality Group (ARES)?

The deal is intended to accelerate CHG's multi-brand expansion, bolster production and technology, and enable selective M&A activity. According to the company, this financing strengthens its leadership position in flexible, high-quality meeting and event spaces globally.