Apollo Global Management, a firm that specializes in buying distressed companies, announced yesterday it had completed its purchase of ClubCorp, the publicly traded company that owned Anthem Golf & Country Club.
The $1.1 billion transaction was announced in July. Apollo acquired all the outstanding common stock of ClubCorp. ClubCorp stockholders were entitled to receive $17.12 per share in cash, and ClubCorp will no longer be traded on the New York Stock Exchange.
(The Anthem Golf & Country Club is owned and operated separately from the residential areas that are overseen by the Anthem Country Club Community Association, an HOA, and the overarching Anthem Community Council.)
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No announcements have been made about any possible changes to the local club or others. “We expect the transaction will have little impact on day-to-day operations, and it generally remains business as usual at all the company’s clubs and locations,” ClubCorp spokesperson Andrew Siegel told In&Out last month.
ClubCorp owns more than 200 golf and country clubs and other clubs in 27 states, the District of Columbia and two foreign countries. Apollo is a “global alternative investment manager” with offices in New York, Los Angeles, Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $232 billion as of June 30, 2017 in private equity, credit and real estate funds invested across a core group of nine industries