The Pellucid Perspective - August 2013 - (Page 10)

GOLF FINANCE New private club buyer/investor emerges Former ClubCorp, Fore Golf executive Bennison heads new group By Jim Dunlap D allas-based Millenium Club Partners has become the latest respondent to the golf industry’s need for investment and operating capital. Headed by veteran industry executive Tom Bennison and backed by the same family office group that recently contributed to Fore Golf Partners more than tripling that group’s portfolio of managed courses, Millenium has a three-tiered business offering targeting private club properties - their own purchase of private country clubs, long term leases from member-owned clubs and partnering with experienced management companies who desire to grow. “Our business plan is unique from others in the industry,” said Bennison, a long-time senior business development executive with ClubCorp whose relationship with his current Millenium Club Partners investors contributed to Fore Golf Partners’ dramatic recent leap from 13 properties to more than 40 when Fore became involved with a number of CNL-owned properties. “Our basic game plan is to match experienced WHERE DO OVER 250 INDUSTRYLEADING COMPANIES GET UNBIASED, FACT-BASED INFORMATION & INSIGHT? Visit our website and register for more information and free sample reports at Or, contact Jim Koppenhaver to discuss your unique needs at or 847.808.7651 10 The Pellucid PersPecTive operators, many of whom got their starts with ClubCorp, American Golf or others, with the right properties. We can buy properties for cash, or leverage purchases through seller finance, thanks to the blue chip investors in our family office partnership.” Bennison retains a financial interest in Fore Golf Partners, but is no longer involved in the day to day operations of the company. Bennison stressed that Millenium is strictly interested in private club properties as opposed to public golf, whether it is for Millenium acquisition or lease or to finance private club acquisitions or operation by other operators. “We like the private club model,” he said. “We are willing and able to invest in capital improvements at those clubs, both to enhance current member retention and for enroll“Our basic game ment of new members. plan is to match We have no plan to build a management organizaexperienced tion. We want to own or operators, many lease private clubs and to use experienced manageof whom got their ment companies or consultants to manage them. starts with ClubCorp, That’s what really makes American Golf or this unique. It’s an investment strategy that others, with the right has served many owners properties.” in the hotel industry very TOM BENNISON well.” VETERAN INDUSTRY INSIDER In addition to Bennison, the Millenium Club Partners corporate executive team includes Dallas businessmen John Pigott and Bruce Leadbetter, longtime counsel to the Pritzker family of Chicago Harold (Hank) Handelsman, and Christopher Bancroft, a former director of Dow Jones & Company. Bennison said that the Millenium Club Partners web site,, is scheduled to be fully operational this month, but in the meantime, he can be contacted at his 972-490-2346 office number, his 972-467-5709 cell phone, or by email at “The timing, and our unique approach to the use of investment capital to acquire the right to own a club’s cash flow, will hopefully prove very successful,” Bennison said. “Once our website is up and we make an announcement about partnering with member-owned clubs and multi-course owners and operators to assist with their growth, I expect to be over-run with deals n to consider.” August 2013

Table of Contents for the Digital Edition of The Pellucid Perspective - August 2013

The Pellucid Perspective - August 2013
Say good-bye to Ladies Day?
2013 mid-year review: Anyone get the license place of that truck?
The true cost of barter
Snowboarding is to skiing as ??? is to golf
New private club buyer/investor emerges
Skybrook Golf Club, Charlotte Golf Links owe millions, placed in receivership
July golf weather impact: Finally, a weather-favorable month vs. ’12
Finding golfers no circus act in Sarasota
Random shots

The Pellucid Perspective - August 2013