Convene announces strategic investment led by HBC and Ares Management

Convene, a hybrid meeting, event and workspace provider, has completed its recapitalization plan, led by HBC, a holding company at the intersection of real estate, technology and retail, and a fund managed by Ares Management Corp.

Convene will operate HBC’s existing portfolio of flexible work, event, restaurant and meeting spaces, which are expected to be rebranded as Convene and will remain branded as SaksWorks in the interim. HBC will be the majority owner of the combined entity, with 26 facilities under management and dozens more under development, which is expected to be the largest premium flex space operator across the United States, Canada and Europe.

Convene Studio, a proprietary virtual and hybrid events platform, can be added to any Convene or third-party location venue to enable seamless, secure hybrid and virtual meetings for up to 10,000 virtual attendees, including full production services.

With the investment from HBC and Ares, Convene’s futur