The Ritz-Carlton Yacht Collection, a provider of luxury travel for the world’s wealthy, is seeking to raise as much as $400 million to add to its fleet of superyachts, people with knowledge of the matter said.
The company is working with Citigroup Inc. on the fundraising, according to the people, who asked not to be identified discussing confidential information. It wants to add two more ships to the three already in its fleet, one of the people said.
The Ritz-Carlton Yacht Collection is backed by investors including Oaktree Capital Management and is led by Chief Executive Officer Jim Murren, the former CEO of hospitality and entertainment company MGM Resorts International.
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