Cipriani to Get New Lifeline With Money From Hedge Fund

A New York City investment fund is poised to provide a financial boost to Cipriani, nearing a deal that would refinance loans for the Italian hospitality company’s U.S. operations while helping fund its future expansion.

King Street Capital Management is in advanced talks to refinance about $150 million of operating debt held by Cipriani’s U.S. subsidiary, according to people familiar with the matter.