There was a huge announcement made this week regarding a new investors in Troon. The golf course management company is expected receive a hefty investment fund thanks to a TPG and Symphony Ventures. Rory McIlroy is a famous member of Symphony Ventures which operates out of Ireland.
While not a completely sealed deal, everything is on track for agreements to wrap up after other conditions have been met. We don’t know the full details of the arrangement as they have not yet been released. Troon issued a press release discussing somewhat basic information regarding the new investments.
McIlroy is the lead partner of Symphony Ventures, which was founded in 2019. Among its investments was a $10-million deal in July of 2021 with Drive Shack Inc. in its new entertainment concept Puttery that is in development.
“I am delighted to invest in the Troon business, as they continue to deliver great golf experiences,” McIlroy said in the media release. “They really understand what makes golf special.”
Troon manages more than 640 18-hole-equivalent golf courses around the world, specializing in homeowner association management, private residence clubs, estate management and associated hospitality venues. Troon also owns or leases more than 50 courses that it operates directly.
“Today’s announcement is an exciting milestone for our company, and we are incredibly proud to welcome TPG and Rory to the Troon family,” Troon CEO Tim Schantz said in the media release. “Golfers are at the core of everything we do at Troon, and over the years we have built a business that combines deep industry expertise with hospitality-caliber customer service to help our clients create first-class experiences for their customers, members and guests.
“The investment from TPG, a leading investor and business builder, is a testament to the quality and strength of our offering. We look forward to working with them and the team at LGP to continue accelerating our growth while providing even more resources for our valued clients and partners.”
TPG, which was founded in 1992 and has $108 billion of assets under management, has experience in the travel and leisure market, having invested in brands such as Airbnb, Life Time Fitness and Viking Cruises.
“Troon is providing the gold standard for upscale golf experiences and is recognized by golfers and clubs alike for its high-quality courses and leading management solutions,” TPG Capital co-managing partner Jeff Rhodes said in the media release. “The company is well-positioned to expand its market leadership within the industry at a time when both new and long-time golfers are spending more time on the course.”
Based in Scottsdale, Arizona, Troon operates in more than 45 states and 30 countries with a wide family of brands. The media release said Troon has grown its employee base to 24,400.
This article originally appeared on Yahoo Sports.