Abu Dhabi-based Diyafa, a luxury hospitality investment platform and associate of the International Holding Company (IHC), has acquired a majority stake in the hospitality portfolio of Richard Caring, one of the most influential figures in the global dining and nightlife industry.
The transaction brings some of the world’s most exclusive dining and social destinations under the umbrella of the UAE-based firm. The deal includes the high-end restaurant portfolio of Caprice Holdings—specifically The Ivy Brasseries and acclaimed venues such as Scott’s, Sexy Fish, and Novikov—as well as the prestigious private members’ clubs managed by Berkeley Clubs, including Annabel’s, George, Harry’s Bar, and Mark’s Club.
Under the terms of the agreement, Richard Caring will remain as Executive Chairman. This arrangement ensures that the vision and leadership that built these brands remain intact while leveraging Diyafa’s capital and strategic reach to accelerate international growth.
A Strategic Pivot Toward Global Expansion
The acquisition is not merely a change in ownership but a launchpad for an aggressive global expansion strategy. A primary focus of the partnership will be the highly anticipated opening of Annabel’s in New York City, marking a significant leap for the London-centric club into the American market.
Beyond New York, the group plans to scale the international presence of Scott’s, Sexy Fish, and Novikov. In the United Kingdom, The Ivy Brasseries will continue its domestic growth trajectory through 2026, while the group simultaneously explores new opportunities in the U.S. And other key international luxury hubs.
This move aligns with a broader trend of Gulf-based sovereign and private capital investing in “lifestyle assets”—businesses that provide high-status experiences rather than traditional products. Diyafa’s strategy is built on the premise that modern luxury consumers now prioritize authenticity and meaningful relationships over transactional luxury.
The Architecture of the Diyafa Portfolio
Diyafa has positioned itself as a global consolidator of luxury food and beverage (F&B) brands. By partnering with visionary founders, the platform aims to scale niche, high-reputation brands into global household names within the luxury segment.
The addition of Caprice Holdings and Berkeley Clubs complements an already formidable collection of assets. Diyafa’s existing portfolio includes the Azumi Group, which operates the world-renowned Zuma and Rocca, as well as The H Wood Group, featuring venues like Delilah, The Nice Guy, and Bird Streets Club.
| Segment | Key Brands/Venues | Primary Markets |
|---|---|---|
| Fine Dining | Zuma, Rocca, Scott’s, Sexy Fish, Novikov | Global (London, Dubai, NYC) |
| Private Clubs | Annabel’s, George, Harry’s Bar, Mark’s Club | London, New York (Upcoming) |
| Lifestyle/Nightlife | Delilah, The Nice Guy, Bird Streets Club | Los Angeles, Global |
| Brasseries | The Ivy Brasseries | United Kingdom |
Defining the ‘Experience Economy’
The philosophy driving this acquisition is a response to a fundamental shift in consumer behavior. According to the group, the current luxury market is moving away from the mere acquisition of products toward the pursuit of curated experiences.
Ravi Zakaria, CEO of Diyafa, noted that the deal marks the beginning of a new chapter in the global luxury hospitality sector. He stated that the goal is to build a portfolio of the most influential brands in the world to reshape how future generations perceive dining, social interaction, and luxury living. By partnering with Richard Caring, Zakaria believes the platform is establishing sustainable value with an extensive global impact.
Richard Caring expressed confidence in the partnership, noting that Diyafa’s commitment to exceptional luxury brands makes them the ideal partner to take his labels into new markets. He emphasized the goal of elevating the vision of the hospitality sector to new heights of excellence through a long-term, sustainable partnership.
Market Implications and Stakeholder Impact
For the London hospitality scene, the deal signals a shift in the financial backing of its most storied institutions. While the operational leadership remains with Caring, the infusion of Abu Dhabi-based capital provides a level of liquidity and scale that is difficult to achieve through organic growth alone.
The move also places Diyafa in direct competition with other global luxury conglomerates and private equity firms that are increasingly eyeing the “experiential” sector. By controlling both the dining (Caprice) and the social (Berkeley) aspects of the luxury lifestyle, Diyafa is creating a vertically integrated ecosystem of high-net-worth engagement.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.
The next major milestone for the group will be the official unveiling of the New York Annabel’s project, which will serve as a litmus test for the portfolio’s ability to translate London’s exclusive club culture for a North American audience.
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