Denver-based KSL Capital Partners, an investor specializing in travel and leisure businesses, has closed its fourth private credit fund, KSL Capital Partners Credit Opportunities Fund IV (KSL CPCO Fund IV), at $1.26 billion. The fund exceeded its $1 billion fundraising target.
The credit fund’s investor lineup included a diverse group of pension funds, corporate pension funds, sovereign wealth funds, endowments, foundations and insurance companies.
KSL CPCO Fund IV will invest with a value-add strategy in senior and subordinated floating-rate loans in the travel and leisure industry. High-quality hotels and resorts in high-barrier-to-entry markets will make up most of the debt investments from the fund.
In June 2021, the fund’s predecessor, KSL CPCO Fund III, close with $750 million of capital raised.