Goldman places bet on Soho House with £560m loan

Goldman places bet on Soho House with £560m loan

Goldman Sachs is placing a big bet on the growth of Soho House, one of the world's biggest private members' club networks, with a $770m (£560m) loan as it prepares to go public in New York.Sky News has learnt that Soho House has struck a deal to replace existing debt facilities with Permira Debt Managers (PDM), part of which had been syndicated to the wealthy Reuben family.

Sources said the new financing from Goldman's merchant banking arm would repay an existing PDM loan of £406m and provide further growth capital for the London-based hospitality group.The new facility would be over the "long term".Goldman is not currently involved in Soho House's forthcoming initial public offering (IPO) on the New York Stock Exchange, but could be added to a syndicate led by JP Morgan and Morgan Stanley, they suggested.

News of Goldman's financing comes