Alter Ego founders seek £20m amid rush to open premium Mayfair members' clubs

A group of businessmen are seeking tens of millions of pounds to finance another addition to the ranks of Mayfair private members' clubs catering to London's wealthiest people.

Sky News has learnt that a syndicate which includes the general manager of one of the capital's best-known French restaurants is in talks to secure in the region of £20m for the launch of the Alter Ego Club on Curzon Street in the West End.

The venture's founders are Richard Weiss of restaurant St Jacques, financier Anthony Gahan and Richard Penman, a prominent conservation architect.

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They have secured the site of the former Crockfords casino, which closed in 2023 after 195 years, earning it the status of the oldest casino in London.

The 24,000 square feet, Grade 1-listed Palladian-style townhouse features neoclassical interiors designed by the famous Scottish architect, Robert Adam.

The Alter Ego Club's founders believe they can tap into continuing demand among London's wealthiest people, despite the proliferation of upmarket members' clubs in close proximity to their new site.

Among rival establishments situated within a short walk from the Curzon Street site are 5 Hertford Street, owned by Robin Birley; Annabel's, which recently changed hands when it was sold by the billionaire tycoon Richard Caring; and George, which is part of the same Middle East-owned group as Annabel's.

Liz Truss, the former prime minister, is backing a further new-build project called The Leconfield, which has been conceived by Robert Tchenguiz, the well-known financier.

The spate of new premium venues for the super-rich is at odds with the growing number of British-based financiers and businesspeople who have decided to relocate overseas, principally because of Britain's rising personal tax burden.

A number of high-profile figures have quit the UK for places such as Italy, Monaco and Switzerland since Labour came to power, although it was the Conservative government's decision to abolish the non-dom regime which was the catalyst for many to reconsider their presence in Britain.

A source close to the Alter Ego Club project said it was designed to be a "multifaceted destination for every member, mood and occasion, with an emphasis on each visit being an experience".

They said it would present a "rejection of algorithm-run venues enforcing restrictive, time-limited dining slots".

The new site plans to feature a gastronomic restaurant, brasserie and pub as well as various bars, external terraces and a Grand Ballroom for a nightclub and events.

One insider said that a number of members were in the process of signing up and hailed from business, finance and investment, as well as art and sport.

The Alter Ego Club is initially targeting a 5,000-strong membership base, with members paying a joining fee and an annual membership of £2,600.

It is aiming to open late next year, and is now in discussions with strategic investors which want to complement their existing hospitality and hotel offers in central London.

The fundraising is also targeting private equity firms attracted to the potential returns from private members' clubs, with the Alter Ego Club informing potential backers that it will consider opening new clubs in other key international locations, as well as pursuing broader commercial opportunities in the UK.

The Alter Ego Club's founders have been contacted for comment.

(c) Sky News 2026: Alter Ego founders seek £20m amid rush to open premium Mayfair members' clubs