We advised the agent and lead arrangers on the facility

Davis Polk advised Ares Capital Corporation as administrative agent and the joint lead arrangers in connection with an over $1.7 billion debt facility being provided to a fund managed by affiliates of KSL Capital Partners to finance its acquisition of Invited, a portfolio company of Apollo.

Invited is the world’s largest operator of private clubs. It owns and manages over 150 golf and country clubs and city clubs in 26 states, the District of Columbia and Mexico.

KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. Its current portfolio includes some of the premier properties in travel and leisure.

The Davis Polk finance team included partner Rob Morrison and Zachary R. Frimet and counsel Bernard Tsepelman and Christina C. Bell. Partner Frank Azzopardi and associate Francesca Masella provided intellectual property advice. Counsel Julie E. Dechen and associate Holly Paige Constants provided real estate advice. Members of the Davis Polk team are based in the Los Angeles and New York offices.

Copy link to share post