Abu Dhabi's DIAFA Acquires Majority Stake In Richard Caring’s UK-Based Hospitality Group
DIAFA will take a controlling interest in the business behind some of the UK’s best-known hospitality brands, including The Ivy, the upscale restaurant group that has expanded into a nationwide chain, as well as private members’ club Annabel's.
DIAFA, an affiliate of the Abu Dhabi-based investment firm International Holding Company (IHC), which is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, has acquired a majority stake in British businessman Richard Caring’s hospitality empire in a deal valued at more than £1 billion (US$1.3 billion).
According to Bloomberg, DIAFA will take a controlling interest in the business behind some of the UK’s best-known hospitality brands, including The Ivy, the upscale restaurant group that has expanded into a nationwide chain, as well as private members’ club Annabel's.
The acquisition strengthens DIAFA’s growing hospitality portfolio, which already includes investments linked to Azumi Group, operator of Zuma and Roka, as well as The h.wood Group, whose brands include Delilah, The Nice Guy, and Bird Streets Club. The transaction also includes the wider portfolio of Caprice Holdings, owner of venues such as Sexy Fish, Scott's, and Noema, alongside private clubs including George, Harry's Bar, and Mark's Club.
Caring will remain Executive Chairman, and, together with DIAFA, will oversee the company’s next phase of international expansion. The transaction provides fresh capital to support growth while offering a partial exit for the entrepreneur, who built his fortune in fashion before expanding into hospitality and property. Under his leadership, The Ivy has evolved from a single celebrity hotspot into a nationwide brand with more than 40 locations through a strategy centered on acquiring heritage assets and scaling them into modern lifestyle businesses.
The move is the latest in a string of high-profile transactions by IHC, which has grown into the UAE’s largest listed company and a major force in Abu Dhabi’s global investment strategy. Earlier this year, the conglomerate announced the launch of Judan Financial, a new financial services platform overseeing approximately AED870 billion ($237 billion) in assets, following the merger of three subsidiaries into a $33 billion investment group spanning 85 countries.
Despite ongoing geopolitical uncertainty, Gulf investors continue to pursue international deals. Recent examples include Qatar Investment Authority and Mubadala Investment Company joining Whoop’s latest funding round, while Savvy Games Group, backed by Saudi Arabia's Public Investment Fund, agreed to acquire Moonton from ByteDance, highlighting the region’s continued appetite for cross-border investment.
Pictured in the lead image is one of The Ivy's properties. Image courtesy The Ivy.
