Events that offer to set up wealthy older men with young cash-strapped women, dubbed "Sugar Daddy Parties", are about to hit Britain after becoming popular in the US The parties have been hosted at swanky New York cocktail bars, where the "daddies" discuss fees for future dates with the women who take their fancy -- and its organisers are now seeking London venues. The "matchmakers" justify the events by insisting that all participants are consenting adults and nobody has to do anything they don't want to but critics say the parties are bordering on prostitution. And the scenes from New York venues that have hosted the get-togethers, showing pretty young women hanging off the arms off much older men only add to the sleaziness factor. On average, fees of $500 per date is said to be common in the US, but arrangements worth between $10,000 and $20,000 per month have also been agreed upon in the past, according to its organiser. Despite denying that they're encouraging prostitution, organisers say the women are usually aged in their late teens or early 20s and are seeking money to pay for university fees or a more glamorous lifestyle. And they say there are already thousands of British "sugar babies" waiting to meet "daddies", according to the Daily Telegraph. The chief executive of the company Seeking Arrangement, Brandon Wade, told the newspaper: "We have perfected our parties and are now ready to launch in even bigger markets like London. We are due to start in early 2012."