Symphony Ventures, the investment fund of professional golfer Rory McIlroy, and TPG Capital, the private equity firm, have agreed a deal to make a “significant strategic investment” in the Troon golf course and club management company.

The investment, announced yesterday and expected to close in December subject to regulatory approval, will be used to fund the next stage of growth for Troon with additional capital, resources and expertise.

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Leonard Green & Partners, which acquired a stake in Troon in 2017, will retain a significant investment in the business.

Troon currently provides operational, management and advisory services to more than 620 golf and leisure facilities globally.

It owns or leases more than 50 courses that it operates directly, including Troon North Golf Club in Scottsdale, Arizona, its flagship property and the first golf business with which it was involved, out of which the rest of the business has grown.

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McIlroy is the lead partner of Symphony Ventures, which was founded in 2019.

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Earlier this year, meanwhile, TPG Capital bought a 30 per cent stake in the satellite television broadcaster DirecTV from AT&T, the prominent US telecoms giant.

Tim Schantz, chief executive of Troon, said: “Golfers are at the core of everything we do at Troon, and over the years we have built a business that combines deep industry expertise with hospitality-calibre customer service to help our clients create first-class experiences for their customers, members and guests.

“The investment from TPG, a leading investor and business builder, is a testament to the quality and strength of our offering. We look forward to working with them and the team at LGP to continue accelerating our growth while providing even more resources for our valued clients and partners.”

Jeff Rhodes, co-managing partner of TPG Capital, added: “Troon is providing the gold standard for upscale golf experiences and is recognised by golfers and clubs alike for its high-quality courses and leading management solutions. The company is well-positioned to expand its market leadership within the industry, at a time when both new and long-time golfers are spending more time on the course.”