Apollo Global Management is set to provide more than $700m in equity and debt financing to support a deal that will take private members’ club operator Soho House private, according to a report by the Wall Street Journal.
The transaction, led by New York–based MCR Hotels, values the business at $1.8bn, with shareholders receiving $9 per share – a 17.8% premium to Friday’s close. Billionaire Ron Burkle, Soho House’s controlling shareholder, is expected to roll over his stake alongside other investors.
Apollo’s involvement underlines private credit’s growing role in large-scale hospitality transactions, with the firm providing a mix of debt and equity financing to underpin the deal structure.
Soho House, which operates exclusive clubs, hotels, and co-working spaces globally, has been under pressure from shareholders to explore strategic alternatives. Earlier this year, activist investor Daniel Loeb urged the board to run a competitive sale process following an earlier take-private approach.
