Private Equity Conversations with Fexingo · 2026-06-23 · 7 min
In this episode, Lucas and Luna explore the wave of private equity investment in golf courses. They focus on the case of ClubCorp, acquired by Apollo Global Management in 2017 for $1.1 billion, and how PE firms are rolling up municipal and private courses into large-scale platforms. The hosts discuss the economics: membership models, real estate value, and the shift toward experience-driven leisure. They also examine the risks, including high leverage and local opposition. Specific numbers include the roughly 16,000 courses in the US and the estimated 2-3% now owned by PE. A balanced look at a fragmented industry being consolidated. #PrivateEquity #GolfIndustry #ClubCorp #ApolloGlobalManagement #CourseConsolidation #MembershipModels #Finance #Business #Investment #RealEstate #FexingoBusiness #BusinessPodcast #LeveragedBuyout #FragmentedIndustries #LeisureEconomy #RollUp #DebtFinancing #GolfCourses Keep every episode free: buymeacoffee.com/fexingo
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