Deals
Celebrity Hotspot Cipriani Seeks €500 Million for Global Push
- Club operator looks to bring model to other global cities
- Cipriani’s NY flagship generated over $60 million last year
Cipriani, the operator of celebrity-packed restaurants and members’ clubs, is seeking to raise as much as €500 million ($526 million) for its global expansion, people with knowledge of the matter said.
The company’s new Cipriani Hospitality Fund will invest in iconic buildings in locations including Dubai, Singapore, Madrid, Geneva and Tokyo, according to an investor presentation seen by Bloomberg News. These will be developed into members’ clubs under the Casa Cipriani banner, and luxury residences.