DENVER, June 9, 2026 – KSL Capital Partners, LLC (“KSL”), a leading alternative investment firm, today announced its affiliates have acquired Invited Clubs (“Invited” or the “Company”) from Apollo-managed funds (the “Apollo Funds”).

Founded in 1957, Invited is the largest owner and operator of private clubs in the United States, with a portfolio of more than 150 golf and country clubs, city and business clubs and lifestyle-oriented venues. The Company delivers first-class amenities, exceptional service and industry-leading programming and benefits for members across major markets. Invited has invested significantly across its portfolio and has continued to reimagine numerous clubs through course renovations, clubhouse redesigns, expanded programming and amenity improvements. Through its XLife Benefits platform, Invited also provides members with access to golf, dining, racquet sports and lifestyle experiences at clubs and resorts across its network and at participating clubs around the world.

“Invited has spent nearly 70 years redefining the private club industry, building premier clubs that are rooted in their local communities, connected through a scaled network and united by a deep commitment to membership experience,” said Michael Mohapp, Partner at KSL. “We have a deep appreciation for the strength of Invited’s platform and the important role its clubs play in the lives of members and communities. We look forward to working alongside the Invited team to build on the Company’s momentum through continued investment across the portfolio as we execute on a shared vision to further elevate the exceptional member experiences that have defined Invited for generations.”

“Our members are at the heart of everything we do at Invited, and the engagement and enthusiasm across our 150-plus clubs are a testament to the strength of what this team has built,” said David Pillsbury, CEO of Invited. “We have spent decades continuously reinvesting in our clubs and expanding the ways members can connect, play and belong, and we have never been more excited about the opportunities ahead. We could not be more pleased to enter this next chapter with KSL, whose deep roots in travel and leisure and genuine passion for unforgettable experiences make them the right partner to help us continue raising the bar for our members nationwide. Just as important, none of this would be possible without our extraordinary team members, whose unwavering dedication and commitment every day help build meaningful relationships, enrich lives and create the exceptional experiences that define Invited.”

Jordan Spieth, three-time major champion who will continue as an investor with KSL and Invited, said, “Invited has been part of my life since I was a kid learning the game at Brookhaven Country Club, so it's especially meaningful to be involved as an investor. I've seen firsthand the impact these clubs have on members, families and communities across the country. That's why I'm excited about this next chapter with KSL Capital Partners. KSL understands the power of exceptional hospitality and long-term investment, and I believe their partnership will help accelerate Invited's vision while building on the remarkable foundation that's already been established. The future is incredibly bright, and I'm confident the best is still ahead for our members, associates and clubs nationwide.”

“We are proud to have supported Invited as a long-term partner, working closely with the outstanding management team to execute a shared vision for the business,” said Daniel Cohen, Partner at Apollo. “Under Apollo fund ownership, Invited has made meaningful investments to transform into a leading lifestyle and leisure platform, while thoughtfully refining its portfolio and enhancing the member experience. This transaction reflects the strength of the business today, which we believe is well positioned to continue that momentum in its next chapter with KSL.”

Barclays acted as financial advisor and Simpson Thacher & Bartlett LLP served as legal counsel to KSL. J.P. Morgan Securities LLC, Wells Fargo and Rothschild & Co acted as financial advisors, and Akin served as legal counsel to Invited.

About Invited Clubs

Since 1957, Invited Clubs has brought people together through private clubs that foster belonging and deliver first-class amenities, exceptional service, and industry-leading benefits. Today, Invited Clubs is the largest owner and operator of private clubs in North America, with all clubs united by a shared commitment to quality, connection, and local character. For more information, please visit www.invitedclubs.com.

About KSL Capital Partners

KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; New York City, New York; and London, England. KSL invests across three primary strategies through its equity, credit and tactical opportunities funds. For more information, please visit www.kslcapital.com.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management. To learn more, please visit www.apollo.com.

Media Contacts

For Invited:

Bonnie Scoggins
Bonnie.Scoggins@invitedclubs.com
(910) 770-2331

For KSL:

Kate Kelley / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
KSL-JF@joelefrank.com
(212) 355-4449

For Apollo:

Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com