Saturday, 20 December 2014
Last updated 1 day ago
Dec 13 2013 | 10:10am ET
Hedge fund manager Louis Bacon has bought New Mexico's famed Taos Ski Valley, adding to his massive Western land holdings.
Bacon, who has owned land in Taos since 1996, bought the resort from the Blake family, which founded in it 1955. Since investing in the area, Bacon has worked with the Blakes and plans to maintain "the flavor and the character of the ski area," Adriana Blake told the Denver Post.
The Moore Capital Management chief is a noted conservationist, having accepted conservation easements on his properties on Long Island, in New York, and on his huge ranches in southern Colorado. He also last year donated 90,000 acres in that state to the U.S. Fish and Wildlife Service to create the Sangre de Cristo Conservation Area.
Which is not to say he doesn't plan to make any changes in Taos, including a new life. But he pledged to safeguard the "special things" about Taos Ski Valley.
Bacon said that TSV chief Mickey Blake approached him about buying the resort. "At first I was dismissive," he told the Taos News. "This is kind of a first, not a business I was hankering towards."
"We believe Louis is the right person to ensure a viable future for the ski valley and that his ownership will be beneficial to our employees, Taos' residents and guests," Blake said.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.