Wednesday, 27 July 2016
Last updated 15 min ago
Dec 17 2007 | 7:22am ET
A hedge fund manager is digging deep to buy a substantial chunk of southern Colorado.
Moore Capital Management’s Louis Bacon, who last week fired an underperforming trading group he picked up from Amaranth Advisors last year, has bought the Forbes family’s massive ranch for $175 million, the Aspen Daily News reports.
The property in Fort Garland—roughly 100 miles southwest of Colorado Springs—is the largest privately-deeded ranch in the state at more than 250 square miles.
Trinchera Ranch has been in the Forbes family for almost 40 years, and boasts three peaks in excess of 14,000 feet and one of Colorado’s largest elk herds. Since patriarch Malcolm Forbes died 17 years ago, the family has used it as a hunting lodge and executive retreat.
Bacon reportedly plans to use the home as a seasonal retreat.