Wednesday, 26 October 2016
Last updated 4 hours ago
Dec 3 2010 | 10:58am ET
His real-estate troubles in Colorado aren't keeping Louis Bacon from buying more of it.
The Moore Capital Management founder has closed on a historic estate in North Carolina originally built by one of his forebears for $45 million. The 8,300 acre Orton Plantation is located in southern North Carolina, just outside of Wilmington.
Bacon has family in the Wilmington area and grew up in Raleigh. The Orton Plantation house was built in 1725 by Roger Moore, an ancestor of the billionaire hedge fund manager.
The Sprunt family, which sold the estate, said Bacon is still unsure of what he'll do with the new property. Orton Plantation had been open to the public before closing for renovations in June.
Bacon, who lives in London, is a well-known conservationist and is currently battling to keep a 140-mile power line from being built through his 250-square-mile ranch in southern Colorado. He has also removed development rights from several properties he owns in New York.
Bacon also owns a home in the Bahamas.