SIOUX FALLS, S.D. – Bird Dog Equity Partners announced the closing of Bird Dog Hospitality, a $10 million fund to purchase hotel properties based in the Midwest. The fund has already purchased hotels in Chadron, Neb. and Oskaloosa, Iowa and the management team of John Pesicka and Kyle Schock is evaluating additional opportunities.
The fund is the 7th for the Sioux Falls-based private equity partnership between Paul Schock and Chad Hatch.
“Chad and I were very pleased by the interest in our newest fund,” said Paul Schock, Managing Partner. “We are gratified that many of our previous investors and several new partners share our optimism regarding the market opportunity identified by the fund. There are literally hundreds of attractive properties in the Midwest that we believe can benefit from our management expertise.”
Day-to-day operations of the fund’s properties will be led by the management team of Pesicka and Schock. John Pesicka has over 30 years of experience in the hotel and hospitality industry, most recently as a founding partner of a company that oversaw the management of 10 hotel properties across the Midwest. Previously, Pesicka was COO of The Summit Group, Inc., which peaked at 45 hotels with a combined revenue of over $40 million. Kyle Schock is the founder and owner of a digitally-focused golf and hospitality marketing firm and spend five years as the Sales & Marketing Director for The Prairie Club, a destination golf resort in Valentine, Neb.
“We’ve worked with the management team of Bird Dog Hospitality before and witnessed their track record of success in the industry,” said Chad Hatch, Managing Partner. “Their work ethic has already benefitted the fund’s investors and we’re optimistic they will continue to find opportunities.”
Prioritizing people — both those looking for capital and those looking to grow their capital —has brought Bird Dog Equity Partners to where they are today. The Sioux Falls-based private equity partnership between Paul Schock and Chad Hatch has seven funds with more than $26 million under management. The one thing all their investments have in common is that the people running the companies have expertise, integrity, a strong work ethic and the same balanced life that Chad and Paul strive to lead. They have been entrepreneurs in private equity together for 15 years and running Bird Dog for the past five. To learn more, go to BirdDogEquity.com.