Danny Meyer, the famed New York restaurateur who eliminated tipping at restaurants and founded the Shake Shack empire, is jumping into the world of finance.
ADVERTISEMENT
Shake Shack founder Danny Meyer is jumping into finance with a $220 million fund (SHAK)
Danny Meyer, the famed New York restaurateur who eliminated tipping at restaurants and founded the Shake Shack empire, is jumping into the world of finance.
ADVERTISEMENT
Recommended articles
Meyer has raised $220 million for a private equity fund called Enlightened Hospitality Investments LP that will make $10 million to $20 million investments in companies that share the employee-focused ethos of his Union Square Hospitality Group establishments, according to a story in The Wall Street Journal by Charles Passy.
The fund, which is managed by USHG but has raised outside capital, has completed a handful of deals so far, including New York gourmet coffee chain Joe Coffee, the small West coast chain Salt & Straw Ice Cream, and restaurant-booking app Resy, according to the report.
Read the full story at The Wall Street Journal.
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Russian troops have entered base housing US military forces in Niger
Digitalisation: A revolution in financial services
Most valuable airline loyalty programs in Africa
Benin joins EBRD as the first Sub-Saharan African member
Offshore sportsbooks and best sports betting sites
Top 5 African cities with the most unaffordable real estate in 2024
US says it is still engaged with West African juntas
Opinion Piece: Accelerating sustainable development goals through better agricultural risk management
