Oak Hill comes to the rescue | TahoeDailyTribune.com

Oak Hill comes to the rescue

By the close of the depressing 1998-99 ski season, American Skiing Company was bogged down with a $401 million debt and looking for financial partners.

Oak Hill Capital Partners, L.P., founded by Robert M. Bass, came to the rescue in August with a $150 million infusion of cash. It became ASC’s largest shareholder with 48.5 percent of the company. The ski company’s senior management came away from the deal with 26.7 percent but maintained management control.

Oak Hill is a $1.6 billion private equity partnership known for making significant investments through acquisitions, build-ups, recapitalizations, restructurings, strategic joint ventures and the purchase of minority stakes across a wide range of industries. Oak Hill Management, Inc., based in New York and Menlo Park, Calif., manages the partnership.

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