Brookfield takes stake in Maison Estelle group ahead of forced Mayfair club closure

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Brookfield backs Maison Estelle

Highlights

Brookfield acquires a 40% stake in Maison Estelle's holding company for £160 million, covering the Mayfair club, Celeste, and Estelle Manor.
Maison Estelle club must close in September following a firearm-related incident, with reopening subject to reduced hours, lower nightclub capacity, and stricter operational controls.
Brookfield aims to expand Estelle Community internationally, targeting the U.S. with a planned Manhattan club and leveraging the current flagship model for global growth.

Investment terms and closure timeline

As first reported by the Financial Times, Brookfield paid £160 million for a roughly 40 per cent stake in the holding company of Maison Estelle, according to corporate filings and people familiar with the matter. The transaction gives the private capital group an interest not only in the Mayfair club but also in Notting Hill venue Celeste and Estelle Manor, an 85-acre estate and rural retreat in Oxfordshire.

Maison Estelle opened in 2021 in a Grade I-listed Georgian townhouse and has built a reputation among celebrities, royals and dealmakers. The club occupies seven floors, with four dining rooms, 11 bars and a nightclub across the two lower levels, while visitors are required to cover phone cameras to protect members' privacy.

The investment comes six months before the club is forced to shut in September after an incident involving a member who is denied entry on a busy Saturday evening, according to a person with knowledge of the situation. People affiliated with that member are then allegedly seen with a firearm or imitation firearm near the club, while the Metropolitan Police says a live criminal investigation remains ongoing.

Reopening conditions and expansion plans

Westminster Council grants Maison Estelle permission to reopen after a closed-door hearing last week, but the venue is due to return under stricter operating conditions. Its licensing hours are set to be reduced, and the nightclub is to run at lower capacity with table service only, according to a person familiar with the matter.

The police ask the council to review the club's alcohol licence on the grounds that the premises are allegedly associated with serious crime, or serious disorder, or both. During the closure, members are offered food and beverage credit worth double their membership fees.

The club is founded by hospitality entrepreneur Sharan Pasricha and his wife Eiesha Bharti Pasricha, daughter of billionaire Sunil Bharti Mittal, and they retain majority control of the business. Brookfield is seeking to help Estelle Community, the brand uniting the three clubs, expand internationally, with the U.S. a target market and Manhattan expected to host its first club there.

In financial disclosures seen by the Financial Times, Brookfield says Luna Group, which holds the three clubs, combines a strong brand with recurring membership fees and resilient engagement from a high-net-worth client base. It adds that the existing flagship model is intended to serve as a blueprint for expansion into global financial hubs; Brookfield and Maison Estelle decline to comment.

Our earlier article on the Philippine Social Security System (SSS) detailed how the state pension fund defended its equity investing record amid scrutiny over recent unrealized losses. SSS argued that paper losses do not become cash losses unless assets are sold below cost, while long-term realized gains and recurring dividend income have remained key supports for overall fund performance.

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