Sea Island Acquisition, a limited partnership comprising investment funds managed by Oaktree Capital Management, Avenue Capital Group, The Anschutz Corporation and Starwood Capital Group, has acquired substantially all of the assets of Sea Island Company, a private resort and real estate development company.
"Today is a new beginning for Sea Island and a continuation of our great heritage," says chairman and chief executive Bill Jones III. "Our new ownership group, which is comprised of four highly respected investment firms, is committed to returning the company to consistent profitability, while maintaining its outstanding reputation for service and care for guests, members, and residents. Sea Island will continue to be a special place, distinguished by its extraordinary set of facilities and the genuine, southern hospitality and service provided by our dedicated and professional employees."
A private resort and real estate development company founded in 1926, Sea Island Company today owns and operates Sea Island Resorts, featuring the Forbes Five-Star Cloister at Sea Island and The Lodge at Sea Island Golf Club, a Forbes Five-Star and AAA Five-Diamond property.
