KSL Capital Partners

Co-founders Eric Resnick and Mike Shannon lead the firm's investment committee as managing directors. Both left KSL Recreation to launch KSL Capital in 2005, bringing direct operating experience from the resort industry. The remaining partnership includes senior deal leads and operating partners, though the firm has not publicly disclosed the full investment committee roster.

KSL's sourcing advantage comes from decades of operator relationships in hospitality and leisure. The firm employs former hotel general managers, resort executives, and brand operators who identify acquisition targets through industry networks rather than auction processes. Control deals often originate from family-owned properties, distressed operators seeking specialized capital, and corporate carve-outs of non-core leisure assets.

KSL Capital Partners operates as a private equity firm that raises capital from institutional limited partners — not as a family office. The firm manages commingled funds with third-party LP commitments. Founding partners Resnick and Shannon built the firm to scale beyond their own capital, unlike a single-family office, though the senior partnership retains significant GP commitment.

KSL primarily executes direct control investments and structured credit deals rather than committing to external funds. The firm runs dedicated equity and credit vehicles that originate and underwrite deals internally, though co-investment alongside limited partners does occur on large transactions when the fund size requires syndication.

KSL targets mature, cash-flowing businesses and real estate platforms — not early-stage or venture investments. Typical transactions involve buyouts, recapitalizations, and growth equity injections into established operators. The credit arm originates senior and mezzanine loans to post-revenue hospitality businesses and property owners.

KSL avoids sectors outside travel, leisure, and hospitality — the firm does not invest in healthcare, general industrials, or technology outside of travel-tech platforms. Within hospitality, KSL has historically steered away from budget motels and midscale select-service hotels unless part of a larger portfolio acquisition.

KSL Recreation was an independent resort owner-operator formed alongside KKR in the 1990s that acquired and managed trophy properties including La Costa Resort and Spa. Eric Resnick and Mike Shannon were senior executives there before leaving in 2005 to found KSL Capital Partners as a pure investment manager. The new firm retained the KSL brand but has no current ownership ties to KKR.