Firm: KSL Capital Partners
Fund: KSL Capital Partners IV
Target: $2.25 bln
Amount Raised: $1.72 bln
KSL Capital Partners IV has raised $1.72 billion from 100 investors in about five months, the April 15 filing shows.
The filing does not list an amount for the fund’s target, but Buyouts has previously reported the firm hopes to raise $2.25 billion for Fund IV.
The firm first disclosed its fundraising plans last November, when it filed a Form D showing that it had raised $33 million. The filing does not disclose the names of investors, but Buyouts reported in March the Public Employees Retirement Association of New Mexico committed up to $60 million to Fund IV.
The executives listed in the Form D match up with the execs on KSL’s website, except for one: Craig Henrich. Henrich is listed as a partner on the website but is not named in the Form D. The website states Henrich joined KSL in February 2011 and was “previously a senior managing director of CW Capital Investments, where he led their single asset group specializing in the acquisition and management of debt investments, including high yield and mortgage backed securities, and oversaw a portfolio in excess of $4.6 billion.”
The four other partners listed on KSL’s website are identified as “executive officers” of the general partnership: Peter McDermott, Martin Newburger, Steven Siegel and Richard Weissmann. Director of Finance Charlie Martin is also listed as an executive officer of the GP.
KSL Chairman Michael Shannon and CEO Eric Resnick are identified in the Form D as “directors” of the general partnership.
KSL refers to the fund under three slightly different names in the filings: KSL Capital Partners IV LP, KSL Capital Partners IV TE LP and KSL Capital Partners IV TE-A LP. It is unclear what the relationship is between those funds. Form Ds for all of those vehicles were made on April 15 and show the same dollar amount: $1.72 billion.
Separately, the firm filed a Form D on Jan. 12 stating it had raised $2.5 million from five investors for an entity called KSL Capital Partners IV FF LP.
KSL has eight control-oriented investments including ski resort Squaw Valley/Alpine Meadows, The Belfry resort and golf course in England (venue for the Ryder Cup), and the St. Regis Monarch Beach, billed as a “Five-Diamond destination resort.”
KSL raised more than $2 billion for its third fund in 2011. KSL Capital Partners III posted a net IRR of 11.5 percent and 1.2x multiple as of June 30, according to the California Public Employees’ Retirement System.
Executives for KSL were unavailable for comment.