Six Senses turns 20 this year and started out in Asia (above); Pegasus’ aim is for it to expand geographically – the first site in Africa (below) will launch soon
co-founded Apollo Global Management prior to setting up Pegasus. “Our belief, which we’ve found reinforced, was this was an absolutely tremendous platform.” In addition to Six Senses’ environmental
and wellness credentials, Cogut cites its highly evocative name – “you couldn’t ask for a better name” – as well as the properties themselves as key factors in the decision to buy. “The existing properties were absolutely spectacular.” He saw a real opportunity for the
Asia-based company to become a global leader. Since then, the firm has further
strengthened its spa and wellness portfolio with the acquisition in 2013 of Raison d’Etre Spas, the globally renowned, Stockholm-based spa consultancy and management company. But three years on from the Six Senses acquisition, how close is Pegasus to realising its goals? And as an equity company whose first obligation is to its investors, what will be its next move?
Global expansion In contrast with many private equity firms, Pegasus “is focused on long-term business building and working with our
management teams [to create] something of fundamental value, rather than just to have a play with the markets,” says Cogut. “If we’re making money, [we want it to be because] the company’s gone some place… a better place than where we started.” With Six Senses, the first crucial
step was to get the right people on board. Starting with Wolf Hengst, former president of Four Seasons, as new executive chair, a dream team was recruited. Appointments included Neil Jacobs, former president of Starwood Capital Hotels and senior vice president
©CYBERTREK 2015
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