Celebrity Hotspot Cipriani Seeks €500 Million for Global Push

Cipriani, the operator of celebrity-packed restaurants and members’ clubs, is seeking to raise as much as €500 million ($526 million) for its global expansion, people with knowledge of the matter said.

The company’s new Cipriani Hospitality Fund will invest in iconic buildings in locations including Dubai, Singapore, Madrid, Geneva and Tokyo, according to an investor presentation seen by Bloomberg News. These will be developed into members’ clubs under the Casa Cipriani banner, and luxury residences.

Casa Cipriani in New York City.

Photographer: Michael Ostuni/Getty Images

The new fund is being created in partnership with Optimum Asset Management SA, as well as Credit des Alpes, a Geneva-based advisory ...