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ELPS Capital
ELPS Capital manages the wealth Michael Pascucci built as the founder of Oxford Resources Corp., a firm credited with pioneering the super-prime...
ELPS Capital
ELPS Capital manages the wealth Michael Pascucci built as the founder of Oxford Resources Corp., a firm credited with pioneering the super-prime auto-leasing niche in the United States. After selling the company to Bank of America in the mid-1990s for approximately $700 million in stock, Pascucci moved into media, launching Long Island's WLNY-TV. He sold that station to CBS in 2011, a transaction that refueled the single-family office's balance sheet and allowed it to expand far beyond media into luxury real estate and private aviation. The firm's strategy centers on trophy real estate and service-oriented transportation assets, a concentration rarely seen outside hospitality-focused dynasties. ELPS developed the Sebonack Golf Club in Southampton, a Jack Nicklaus-Tom Doak co-design that remains one of the most exclusive courses on Long Island, and operates Sound Aircraft Services, a fixed-base operator at Gabreski Airport. The office also controls a portfolio of high-end residential and commercial properties around New York, avoiding institutional fund structures in favor of wholly-owned operating businesses that serve ultra-high-net-worth clientele. Pascucci runs the office from New York but the operational gravity is distinctly East End. The family also created the WLNY-TV Foundation, a philanthropic vehicle that directs grants to regional Long Island causes, maintaining a clear separation from the commercial investment activities of ELPS. In December 2023, the firm's private aviation affiliate, Sound Aircraft Services, expanded its hangar space at Gabreski to accommodate growing fractional ownership demand (per public record, December 2023). ELPS is structurally unusual for a single-family office because it functions more like a holding company for luxury operating businesses. Instead of allocating to external funds or chasing minority stakes in growth companies, Pascucci's capital builds and controls hard assets that generate yield through club memberships, hangar fees, and ground leases — an architecture that insulates the principal from standard venture and public-market cycles.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Michael Pascucci
Principal
Sector focus
Frequently asked questions
Who makes investment decisions at ELPS Capital?
Michael Pascucci is the sole principal and ultimate decision-maker for ELPS Capital. The firm operates with a lean, undisclosed team that manages its real estate and aviation assets on a day-to-day basis, but all major capital allocation and acquisition decisions run through Pascucci personally, consistent with a tightly held single-family office structure.
How is ELPS Capital's wealth origin connected to its portfolio?
Michael Pascucci made his initial fortune by building and selling Oxford Resources Corp., a nationwide auto-leasing company, to Bank of America in the mid-1990s. He later entered the media business with WLNY-TV, selling it to CBS in 2011. Both liquidity events funded what ELPS is today: a portfolio of hard assets including golf, aviation, and real estate, with no external limited partners.
Does ELPS Capital invest in venture capital or private equity funds?
There is no public evidence that ELPS participates in traditional venture capital or private equity fund commitments. The family office instead acquires and operates whole businesses — such as private golf clubs and aviation service providers — that generate steady, membership-driven cash flows rather than fund-to-fund returns.
What role does Sebonack Golf Club play in the ELPS portfolio?
Sebonack Golf Club in Southampton, co-designed by Jack Nicklaus and Tom Doak, is the crown jewel of ELPS's real asset holdings. The club operates as an ultra-exclusive private course and functions both as a trophy property and a recurring-revenue business, embodying the family office's preference for owning hard-to-replicate lifestyle assets.
Is ELPS Capital's aviation arm structured as a separate business?
Sound Aircraft Services operates as a fixed-base operator at Gabreski Airport in Westhampton, providing fueling, hangaring, and ground services primarily to private and fractional jet owners. It is held within the ELPS family office portfolio but runs as a standalone commercial operation serving external customers, not just the Pascucci family's own aircraft.
Does the Pascucci family maintain a separate philanthropic foundation?
Yes, the WLNY-TV Foundation is a separate philanthropic entity funded by proceeds from the WLNY-TV sale and other family wealth. It awards grants primarily to Long Island community organizations, maintaining a clear legal and operational separation from ELPS Capital's for-profit investments.
What is ELPS Capital's known geographic investment focus?
ELPS concentrates virtually all of its known investment activity on Long Island's East End, specifically in the Hamptons and the surrounding Suffolk County aviation corridor. While New York City serves as the nominal headquarters, there are no publicly documented investments outside the northeastern United States.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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