TPG Backs Convene Hospitality With $230M Financing

Convene Hospitality Group (CHG) secured $230 million in expansion financing to continue its growth in workplace hospitality and event services. The financing comes from alternative asset manager TPG as a new investor, along with Ares Management, CHG announced.

Ares has invested in Convene since 2022. CHG CEO and co-founder Ryan Simonetti said client expectations have shifted since the company debuted in 2009, with hospitality and traditional events increasingly blending into a single service offering.