Investors tee up in US golf paradise

A Chinese investment group has become the largest operator of golf courses in Myrtle Beach, South Carolina, known as the seaside golf capital of the US because it has more than 100 courses.

Founders Group International acquired last month the majority of the assets of National Golf Management, which had been the largest owner/operator in the area with 12 courses.

Founders has not been alone in acquiring courses in the area. Other Chinese groups, families and individuals have purchased courses and related assets. According to the Charlotte Observer newspaper, investors from China have purchased 27 of the area's 80-plus public courses since June 2013.