Executives were not available for comment, but the
Altogether KSL Capital has more than $1.6 billion under management, overseen by about 20 investment professionals working in Denver and New York. The firm’s Web site describes the firm as taking a hands-on approach to investing in “complex, operationally intensive businesses.” The firm’s goal “is to first organically increase cash flow, while strategically looking at growth opportunities through development, ancillary revenue and add-on acquisitions.”
Managing Directors Michael S. Shannon and Eric C. Resnick founded KSL Capital Partners in 2005. They had worked together for several years prior to that as executives at KSL Recreation Corporation, an owner and operator of resorts such as the Arizona Biltmore hotel in Phoenix. In 1992 Shannon helped found the company with backing from New York buyout shop
The Web site lists seven active investments, including La Costa Resort and Spas, Orion Expedition Cruises, and Western Athletic Clubs. Last month the firm announced an agreement to acquire The Squaw Valley Development Company, operator of a well-known mountain ski resort near Lake Tahoe in Northern California. The firm also said it planned to make $50 million in capital improvements to the resort, founded in 1949 and the site of the 1960 Olympic Winter Games.