Private equity firm KSL Capital Partners has completed the final closing of KSL Capital Partners III, which will specialise in investments in travel and leisure businesses. With in excess of USD2 billion in commitments, the final closing significantly exceeded the original target amount of USD1.5 billion.
Investors in the fund include public and private pensions, foundations, endowments, institutions and high net worth individuals and families.
KSL was founded by Michael Shannon and Eric Resnick in 2005. KSL currently has in excess of USD3.5 billion in equity commitments under management.
“This new Fund will utilise the same investment principles we have used in our prior investment vehicles,” says Michael Shannon, managing director. As a sector fund specialising only in travel and leisure businesses, we take a very hands-on approach to our investments. We believe that this is a unique time in the market to be able to deploy the investment strategy that we have successfully used for more than 20 years.”
Managing Director Eric Resnick, adds: “The fund is the third investment vehicle we have raised since 2005. We greatly appreciate the interest shown in the fund by both our existing and new investors. We are excited to continue to pursue attractive investments in the areas of hospitality, recreation, clubs, resort real estate and travel service businesses,”
KSL’s team of dedicated investment professionals is based in Denver and New York. In addition to founding partners Eric Resnick and Michael Shannon, other principals in the firm include Craig Henrich, Peter McDermott, Marty Newburger, Bernie Siegel, Steven Siegel and Richard Weissmann.
