Stanislaus Employees commits $15m to KSL Capital Partners fund
The Stanislaus County (Calif.) Employees’ Retirement System (StanCERA) has committed $15 million to KSL Capital Partners Credit Opportunity (KSL CPCO) Fund IV.
Managed by KSL Capital Partners, 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.
Of StanCERA’s $2.7 billion of assets under management, 7.6 percent ($203.5 million) is invested toward core real estate, while 4.5 percent ($121.5 million) is invested toward value-add real estate. StanCERA’s target allocations for real estate and for value-add real estate are 6.5 percent and 6 percent, respectively.
KSL CPCO Fund III closed in June 2021 with $750 million of capital raised.
For more information about this fund and others, visit the IREI.Q data