The social finance private equity firm set up by industry veteran Sir Ronald Cohen has made a significant return for its investors on the sale of the Hoxton Hotel, which was once described as one of the "100 best things in the world".

Bridges Ventures, which is backed by Apax Partners, 3i and Doughty Hanson, invested in the hotel via two funds in 2004 and will return £15.2m to investors across both funds through the sale of the business, roughly valued at £70m including fees, to Ennismore Capital, according to a person familiar with the matter.