KSL Notches $1.26B for 4th Private Credit Fund
KSL Capital Partners, LLC, a private equity firm that invests in travel and leisure businesses, held the final closing of its fourth private credit fund, KSL Capital Partners Credit Opportunities Fund IV, L.P. with total commitments of $1.26 billion, including a commitment by the general partner.
The fund exceeded its $1 billion target, closing at its hard cap of limited partner commitments.
Investors include state and county pension funds, corporate pension funds, sovereign wealth funds, endowments, foundations and insurance companies.
The fund’s predecessor vehicle raised $750 million in 2021, representing a nearly 70% increase over Fund III.
“Travel and leisure businesses have shown to be resilient throughout economic cycles, and we are excited about the opportunity ahead to deepen our current partnerships and build new partnerships with many of the respected owners in the sector,” noted Craig Henrich, partner and head of credit at KSL.
Denver-based KSL invests in five core sectors: hospitality, pleasure, clubs, real estate, and travel services. Since its inception in 2005, the business has raised over $15 billion in equity and debt commitments.
Pictured: KSL acquisition of Il Sereno (Italy) in July 2023