KSL Capital Partners (KSL), a private equity firm, has closed the KSL Capital Partners III. Investors in the fund include public and private pensions, foundations, endowments, institutions and high net worth individuals and families.

The new vehicle will make use of the same investment principles used by the previous investment vehicles. The firm initially planned to raise $1.5 billion for the fund, which will target investments in travel and leisure businesses.

Click here for the release from Business Wire.