Ex-KKR whiz leaves to start own fund
Michael Shannon, who had developed some vacation properties in Vail, was handpicked by Henry Kravis back in the early 1990s to launch a rollup of golf resorts. He acquitted himself well and made quite a name for himself in particular as the chief of KSL Recreation, an investment that turned out to be a huge money maker for KKR--to the tune of nearly $2 billion. Now, Shannon is striking out on his own. He has closed KSL Capital's debut private equity fund at $1 billion. The fund will invest in the hospitality, recreation and real estate assets.
For more on Shannon:
- Here's an Investment Dealers' Digest article
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