In a bold move within the financial landscape, KSL Capital Partners LLC announced the successful closure of its latest private equity fund, KSL Capital Partners VI LP, amassing an impressive $2 billion in capital commitments. Guided by Simpson Thacher & Bartlett LLP, this milestone marks a significant leap for the firm in its pursuit of lucrative ventures within the travel and leisure sectors.
Simpson Thacher $2B Fund Close : Diverse Investment Spectrum
The fund, KSL Capital Partners VI LP, is poised to penetrate five key sectors: hospitality, recreation, clubs, real estate, and travel services, as revealed in a statement released on Wednesday. Despite slightly trailing its 2019 predecessor, which garnered $2.7 billion, this feat underscores KSL Capital Partners LLC’s unwavering commitment to strategic growth.
Strategic Vision and Investor Confidence
Setting a robust multiyear goal in late 2021, KSL Capital Partners LLC embarked on a journey to raise new vehicles across various investment strategies. CEO Eric Resnick expressed gratitude towards investors, affirming their pivotal role in capitalizing on the opportune market conditions, especially within the thriving travel and leisure domain.
Expanding Horizons
With an eye on maximizing returns, KSL Capital Partners LLC strategically raised single-asset continuation vehicles for portfolio companies like Ross Aviation and Alterra Mountain Co., further solidifying their foothold in the market. The fund’s broad support base, comprising both new and existing investors, reflects a diverse spectrum, including state and corporate pension funds, sovereign wealth funds, and family offices.
Optimism Amidst Challenges
Ana Goizueta, KSL’s head of investor relations and marketing, commended the team’s resilience in navigating the complex fundraising landscape. Emphasizing the allure of the travel and leisure sector, Goizueta highlighted the firm’s adaptability in seizing emerging opportunities across equity, credit, and tactical domains.
Simpson Thacher $2B Fund Close : A Legacy of Success
Established in 2005, KSL Capital Partners LLC has emerged as a formidable player with offices across strategic locations. The firm’s current portfolio boasts illustrious names such as 5th & Brazos, citizenM, Embassy Suites by Hilton, and La Quinta Resort & Club, reflecting its diverse investment portfolio and global reach.
Guiding Hand of Simpson Thacher
Spearheading the legal counsel for KSL Capital Partners, Simpson Thacher’s team, led by funds partners Tom Wuchenich and John Kreager, played a pivotal role in orchestrating the fund’s closure. Partners Benjamin Rippeon and Jackie Clinton also contributed their expertise, cementing a successful collaboration between legal prowess and financial acumen.
