New Jersey commits $100m to KSL fund

The $79.4 billion New Jersey Division of Investment has committed up to $100 million to KSL Capital Partners V, according to investment board meeting documents.

KSL Capital Partners V will invest in travel and leisure businesses including hotels, resorts, clubs and fitness properties, with a target size of $2.7 billion, according to board meeting documents from the Washington State Investment Board. WSIB previously committed $300 million to the fund.

The fund’s predecessor, KSL Capital Partners IV, held a $2.68 billion final close in 2015, exceeding its $2.25 billion fundraising target. New Jersey Division of Investment committed $100 million to the predecessor fund as well.

KSL Capital Partners is dedicated to investing in travel and leisure businesses. Since 2005, KSL has raised four private eq