Tycoon and sometimes Marshall's Island resident Peter Green has emerged as one of the largest investors in a consortium that purchased the former Savoy hotel group in May last year for $1.3 billion.

Mr. Green, 69, whose fortune was valued near $1 billion in The Sunday Times Rich List, owns a 950,000 square foot lot on Marshall's Island. He also owns the investment company Berco Ltd. which has an office in Bermuda and is part of the empire built by his father-in-law British industrialist Sir Harold Mitchell.

The Manchester-born Green was however independently wealthy before marrying into the Mitchell family through his own interests in textiles and the grocery sector, Tesco.

Mr. Green moved the management of his substantial business affairs from Bermuda to Dublin in 2000.

According to the The Times Online, the equity shareholders invested in the take-over of the hotel through a $197 million loan note. It is estimated that Mr. Green and property developer Paddy McKIllen invested about $45 million in the consortium backed by wealth manager Derek Quinlan.

Mr. Green, who invested through the Cypriot company Misland, also has a 20 percent equity stake in the company that owns Claridge's, The Connaught and Berkeley hotels.

Other Savoy investors include stockbroker Kyran McLaughlin and Riverdance promoters John McColgan and Moya Doherty.