Revived Tavern gets ‘Roy’-al treatment

Written By Unknown on Senin, 05 Agustus 2013 | 10.46

Tavern on the Green is coming back soon — and with the "Le Roy" name behind it!

But it isn't previous Tavern operator Jennifer LeRoy.

Unrelated Jack Le Roy is a principal of Boston-based private equity firm Summit Partners, which has emerged as the mystery backer of the long-dark Central Park landmark.

Summit enters after another of Emerald Green Group's backers, Manhattan-based Capital Spring, backed out last winter, as The Post reported exclusively at the time. Capital's exit left restaurateurs Jim Caiola and David Salama with a potential operating shortfall.

Summit, a firm that boasts $15 billion in assets and investments in more than 365 companies globally since 1984, rode to the rescue. Terms of the Summit-Emerald Green deal could not be learned.

Philadelphia-based Emerald Green won a license agreement from the city last year and is racing to reopen a scaled-down version of Tavern by year's end. It will have 500 indoor and outdoor seats compared with 800 at the old one.

The planned re-launch at the iconic setting, with three-star chef Katy Sparks in the kitchen, has been eagerly awaited by New Yorkers and tourists alike.

Jack Le Roy referred requests for comment to Emerald Green's spokesman, who said, "Summit Partners Credit Advisors LP, an affiliate of Summit Partners, has always been the financial partner of the project with Emerald Green."

However, Summit's Web site says it made the investment in 2013 — and Emerald Green inked its deal with City Hall in August 2012.


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