Private club owner and operator Invited Clubs obtained a private credit facility for over $1.7 billion to support KSL Capital Partners’ acquisition of the company.
Ares Credit funds led the financing and served as administrative agent on the facility, according to a document seen by PitchBook LCD.
KSL acquired the company from Apollo, which bought the platform in 2017. The company was formerly known as ClubCorp. Invited Clubs was sold by Apollo for around $2.6 billion and had 2025 EBITDA of roughly $350 million, according to a report from Forbes earlier this year.
The company has existing private credit debt, as BDC filings show that Ares, KKR, HPS, Lord Abbett, and MSD Partners all held the company’s existing first-lien debt as of March 31, 2026. The existing loans were priced between S+475 and S+500, and matured July 2032.
This is KSL’s second time acquiring Invited Clubs, as the PE firm bought the company in 2006 before its IPO in 2013.
Denver, Colo.-based Invited Clubs is the largest owner and operator of private clubs in the US, with a portfolio of over 150 golf and country clubs, business clubs, and lifestyle-oriented venues.
Featured image by Somchai Sookkasem/Getty Images
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