KSL Capital Partners announced that it has completed the final closing of its latest travel and leisure focused private equity fund KSL Capital Partners VI, L.P. (KSL VI). With commitments from the General Partner, KSL VI closed on about $2 billion in capital commitments. This fund is backed by a group of existing and new investors including state and corporate pension funds, sovereign wealth funds, endowments, foundations, insurance companies, asset managers and family offices.
In late 2021, KSL Capital Partners had set a multi-year goal to raise new vehicles in various investment strategies, including Private Equity, Credit and Tactical Opportunities. Since October 2021, KSL has raised more than $10.5 billion across these strategies.
Simpson Thacher & Bartlett served as counsel to KSL and the fund.
KEY QUOTES:
“When we began fundraising, we set out an ambitious goal of raising capital for each of our strategies in a compressed timeframe. One of our primary goals in raising new capital was to provide a return of capital to our existing investors which we accomplished in raising a single asset continuation vehicle for each of Ross Aviation and Alterra Mountain Company, the latter being one of the largest continuation vehicles completed to date. The remaining capital is, of course, for new investments. Our investors have positioned us well to take advantage of what we believe is a unique time in the market, particularly for travel and leisure businesses where we are able to leverage our deep operational expertise for the benefit of all our investment vehicles. We are tremendously grateful for the support shown to us by our investors across our strategies.”
- Eric Resnick, CEO of KSL Capital Partners
“We are incredibly proud of our team’s efforts in this challenging fundraising environment. We believe that the capital we have raised reflects our long-standing sector focus, our investors’ understanding of the attractiveness of travel and leisure as an investment sector and with capital to deploy across equity, credit and tactical opportunities, our ability to take advantage of changing markets.”
- Ana Goizueta, KSL’s Head of Investor Relations & Marketing
