Wealthy US polo playing socialite and businessman Bruce Colley, whose family has been one of the largest owners of McDonald’s franchises in the United States, is considering opening luxury hotels and restaurants in London.
The 69 year old has partnered with New Zealand financier Rayo Withanage to raise an initial $200 million with plans for further fundraising to finance their investments in the capital and elsewhere around the world over the next two years.
It is thought they have already identified two sites in London ripe for development.
Mr Colley, who is co-chairman of Park Lane, the company leading the investment, said: “We are excited to develop our business together with the Withanage family. Park Lane is launching a series of ultra-luxury platforms in the hospitality industry. The goal is to capitalise on development and consolidation opportunities in the luxury sector.”
Harvard educated Mr Colley, who hit the headlines in 2003 when his affair with Bobby Kennedy’s daughter Kerry led to the break up of her her marriage to former New York Governor Andrew Cuomo, has invested and operated in the hospitality industry for over 40 years. He is known as an avid polo enthusiast who has played with King Charles and Princes William and Harry.
He has developed and managed over 100 hospitality venues ranging from luxury hotels and high end restaurants to fast food outlets. His family has also been one of the largest private owners of restaurants, including hundreds of McDonald’s branches, in the United States.
The Withanage family developed BMB a financial services group with more than $12 billion in assets under management focused on providing advisory and asset management services to Forbes 400 families. Another business he built up, The Scepter Investment Corporation, is a direct investment syndicate for sovereign investors. Core members include prominent Commonwealth ruling families and sovereign investors.
