KSL Capital Fund IV raises $2.68 bln

KSL Capital Partners LLC said Monday that its latest private equity fund closed with about $2.68 billion in commitments. KSL Capital Partners IV LP took less than a year to raise and surpassed the fund’s target of $2.25 billion. KSL IV will focus on investing exclusively in the travel and leisure sector globally, the firm said. PRESS RELEASE DENVER–(BUSINESS WIRE)–KSL Capital Partners, LLC (“KSL”) announces that it has completed the final closing of its latest travel and leisure focused private equity fund, KSL Capital Partners IV, L.P. (“KSL IV” or the “Fund”), with total commitments of $2.677 billion, including the commitment of the General Partner. Fund IV took less than a year to raise, with demand from both existing and new investors significantly surpassing the Fund’s original target amount of $2.25 billion. Investors in KSL IV include a diverse group of state pension funds, corporate pension funds, sovereign wealth funds, endowments, foundations, insurance companies and family offices. “Similar to our prior private equity and credit funds, KSL IV will target investments exclusively in the travel and leisure sector globally,” said Eric Resnick, CEO of KSL Capital Partners. “KSL IV garnered significant interest from our existing investor base and accepted commitments from a select group of new investors. We are grateful for the support shown by all of our limited partners.” KSL was founded by Eric Resnick and firm Chairman Mike Shannon in 2005. Since the firm’s inception, KSL has raised in excess of $7 billion in equity and debt commitments. In addition to the founding partners, KSL’s investment committee members include Coley Brenan, John Ege, Craig Henrich, Peter McDermott, Martin Newburger, Dan Rohan, Bernard Siegel, Steven Siegel, Bryan Traficanti and Richard Weissmann. ABOUT KSL CAPITAL PARTNERS, LLC KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; London, England; and Stamford, Connecticut. In the United States, KSL’s current portfolio includes the Miraval Group, the owner and operator of luxury spa and wellness properties, and the St. Regis Monarch Beach located in Dana Point, California. KSL’s recreation businesses include WellBiz, a health and wellness franchise organization, and Squaw Valley and Alpine Meadows, two of the leading ski resorts in North America. KSL is also the largest shareholder in ClubCorp Holdings, Inc. (NYSE: MYCC), one of the world’s largest owners of private golf and business clubs, and Whistler Blackcomb Holdings Inc. (TSE: WB), the most visited ski area in North America. In the United Kingdom, KSL’s current portfolio includes The Belfry outside Birmingham and Village Urban Resorts, which owns and operates a portfolio of 28 hotels throughout the United Kingdom. For additional information, please see www.kslcapital.com.

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KSL Capital Fund IV raises $2.68 bln

Littlejohn’s Wellfleet Credit closes debut CLO on $360 mln

Wellfleet Credit Partners, the performing credit business of Littlejohn & Co., closed its debut collateralized loan obligation on $360 million. The CLO will be backed by a portfolio of broadly syndicated senior secured loans. Littlejohn funds and its partners are investors in the CLO, which has a two-year non-call and four-year investment period with a final maturity of 12 years. Littlejohn Debt Management formed Wellfleet earlier this year to invest in broadly syndicated loans and related fixed income investments. Press Release Wellfleet Credit Partners (“Wellfleet”) announced today the closing of a $360.0 million collateralized loan obligation (“CLO”), referred to as “Wellfleet CLO 2015-1.” Wellfleet CLO 2015-1 represents the debut CLO issuance for Wellfleet, the performing credit business of Littlejohn & Co., LLC (“Littlejohn”), a private investment firm. The CLO will be backed by a diversified portfolio of broadly syndicated senior secured loans. Eight classes of notes rated Aaa through B3 by Moody’s and three classes of notes rated AAA by Fitch totaling $331.0 million were placed. Littlejohn funds, as well as its partners, are investors in the CLO. The CLO vehicle will have a two-year non-call and a four-year reinvestment period with a final maturity of 12 years. “Despite a volatile market environment, we are delighted by the strong reception that the CLO received from prominent CLO investors,” said Brian Ramsay, President of Littlejohn. Earlier this year, Littlejohn Debt Management formed Wellfleet as a new, dedicated performing credit group to invest in broadly syndicated loans and related fixed income investments. The Wellfleet team includes a dedicated group of credit analysts and is led by Scott McKay and Dennis Talley. Richard Maybaum, a Littlejohn Partner, stated “Dennis and Scott have been a great addition to our debt platform as Littlejohn is already seeing the benefits of extending its reach into performing credit. We are excited about having a performing credit investment product to offer investors.” Morgan Stanley & Co. LLC acted as the arranger for the CLO. Dechert LLP acted as legal advisor. The securities offered in the CLO have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or pursuant to an exemption from the registration under the Securities Act and applicable state securities laws. This release does not constitute an offer to sell or a solicitation of an offer to buy any such securities. About Littlejohn & Co., LLC Littlejohn & Co. is a Greenwich, Connecticut- based private equity firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is currently investing from Littlejohn Fund V, L.P., which has $2 billion in capital commitments. For more information, visit www.littlejohnllc.com.

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Littlejohn’s Wellfleet Credit closes debut CLO on $360 mln