Overview
TPG Inc. and Leonard Green & Partners are actively exploring a potential sale of Troon Golf, a Scottsdale, Arizona‑based operator that manages more than 825 golf locations, including high‑profile courses such as Kapalua Resort in Hawaii and Tobacco Road in North Carolina. Sources familiar with the matter indicate that the transaction could be valued at more than $2 billion.
Process and Timeline
The private‑equity owners have retained investment banks to field interest from prospective buyers. No definitive decision to proceed with a sale has been taken; the owners retain the option to retain Troon Golf should market conditions or strategic considerations warrant it.
Ownership Background
TPG first invested in Troon Golf in 2021, partnering with Symphony Ventures, the investment fund associated with professional golfer Rory McIlroy. This prior investment forms the basis of the current ownership structure being evaluated for a possible exit.
Market Context
Earlier in the month, Troon’s principal competitor, Invited Clubs, was sold by Apollo Global Management Inc. to KSL Capital Partners for a reported $3 billion, underscoring active M&A dynamics within the golf‑course management sector.