Soho House Saves Go-Private Deal With Last-Minute Funding

Soho House has lined up roughly $200 million in new commitments to close its $2.7 billion privatization, just over a week after lead investor MCR Hotels said it couldn’t deliver the full amount of its pledged financing.

Tyler Morse, MCR’s chairman and chief executive, helped save the deal by committing $50 million through a new entity called Morse Ventures, according to a Soho House filing on Wednesday.

MCR itself will now provide $50 million in equity for a combined $100 million from the Morse camp, or