Graphite leaves Groucho Club

According to reports, the deal is thought to be worth around £40m.

Graphite acquired The Groucho Club in 2006 from Longshot, in a deal worth £20m, according to unquote" data. Graphite Enterprise Trust has rolled over its existing investment and remains a shareholder in the company.

Following the deal, the club's new owners intend to open a new site in lower Manhattan, New York.

Company
The Groucho Club is a private members club founded in 1985 and located in London. It was established by a group of publishers who wanted a place to for creative professionals to meet.

The club is famous for hosting high-profile celebrity events; Madonna notably hired out the venue in 1987 for a party. The club has since expanded its geographical reach – setting up pop-ups at the Edinburgh Festival, as well as in Rio de Janeiro, Ibiza and Los Angeles.

Today, the London club operates three bars, two restaurants and 20 bedrooms. Members include Stephen Fry, Jude Law and Tracey Emin.

People
As part of the deal, John Lewis has stepped down from his role as chairperson and has been replaced by Nick Hurrell. Matt Hobbs is CEO of The Groucho Club. Omar Kayat, a partner at Graphite, led the deal for the GP.

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• Topics
• Buyouts
• Exits
• UK / Ireland
• Consumer
• Graphite Capital