Alterra Mountain Company Raises $3 Billion For Future Ski Resort Investments
Yesterday, KSL Capital Partners—a private equity firm—announced they'd raised $3 billion for Alterra Mountain Co. via a single-asset continuation vehicle.
Formed by KSL Capital Partners and Henry Crown & Company, Alterra Mountain Co. is known as a multi-ski resort conglomerate and the purveyors of the Ikon Pass.
Shutterstock/David A Litman
"This transaction allowed us to provide a significant return of capital to those existing investors who desired liquidity while welcoming a new set of investors who share our excitement about the future of Alterra. We look forward to continuing to work with Alterra in its next stage of growth," said Eric Resnick, CEO of KSL.
Where exactly this influx of cash is headed wasn't shared in the press release issued by KSL yesterday. However, I suspect some portion of it might support Deer Valley Resort, Utah's massive expansion project. Deer Valley was acquired by Alterra in 2017, according to DeseretNews.
I've emailed a representative from KSL for more information and will update this article if they respond.
To read the press release from KSL regarding the single-asset continuation vehicle (it's not much information, hence the speculation on my part), click here.
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