KSL Capital Partners Acquires ClubCorp

Denver -- Private equity firm KSL Capital Partners has acquired ClubCorp Inc., whose assets include nearly 170 golf courses, country clubs, private business and sports clubs, and resorts combined.

Among ClubCorp's nationally recognized properties are Barton Creek Resort & Spa, in Austin, TX; The Homestead, in Hot Springs, VA; Firestone Country Club, in Akron, OH; and Mission Hills Country Club, in Rancho Mirage, CA.

ClubCorp's more than 60 clubs include the Boston College Club; City Club on Bunker Hill, in Los Angeles; Columbia Tower Club, in Seattle; Metropolitan Club, in Chicago; and the City Club of Washington, DC.

As part of the acquisition, Eric Affeldt, a former KSL partner, has joined ClubCorp as president and chief executive. In addition, KSL Resorts, an independent management company, will manage The Homestead and Barton Creek Resort & Spa.

ClubCorp's annual gross revenue for 2005 was just over $1 billion. The company employs 18,000 people.

Terms of the deal were not disclosed.

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