Soho's best-known members-only establishment, the Groucho Club, is to open its second outpost in New York after being sold by owner Graphite Capital to the club’s management team.
Groucho chief executive Matt Hobbs also said plans for a third club were underway.
The management buyout was backed by Alcuin Capital Partners, Isfield Investments and a number of other investors. Graphite will also remain a shareholder in the club.
Hobbs said: “This year we are celebrating the 30th anniversary of The Groucho Club and we are extremely ambitious for its future in America and beyond. We are excited to welcome the backing of Alcuin and Isfield alongside Graphite in this new chapter for the club and its members.”
Deloitte Corporate Finance, Osborne Clarke, Rees Pollock, BDO, Charles Russell Speechlys and Olswang were all advisers on the deal.