Texas ERS commits $60m to KSL Capital real estate fund

The $28.5 billion Employees Retirement system of Texas has committed $60 million to a real estate fund managed by KSL Capital Partners, according to Aris Oglesby, operational due diligence analyst for the pension fund.

KSL Capital Partners V is a private equity fund that 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, who also previously committed $300 million to the KSL fund.

The fund’s predecessor, KSL Capital Partners IV, held a $2.68 billion final close in 2015.

Texas ERS has an actual allocation to real estate of 9.44 percent.