Graycliff Announces Credit Investment in Vast Coworking Group

Graycliff Partners LP today announced that it has completed a unitranche debt and equity co-investment in support of New State Capital Partners’ acquisition of Vast Coworking Group (“Vast”), one of the world’s largest coworking platforms.

Vast operates a network of more than 200 locations across the U.S. and internationally, spanning approximately 2.7 million square feet and serving roughly 70,000 members. Through its three brands, Venture X, Office Evolution, and Intelligent Office,  the company serves multiple segments of the flexible workspace market. Its franchise-based model combines local ownership with centralized operational support and brand infrastructure.

“The Vast team has consistently grown its network while maintaining high levels of satisfaction with its franchisees and members, and we are happy to support their next phase of growth,” said Frank Cacace, Managing Director at Graycliff Partners.

“This is the second New State platform that Graycliff has invested in, and we are excited to continue the partnership,” said Daniel Han, Senior Principal at New State.