Billionaire Dart Reinvented as Cayman Land Baron

Two decades after Ken Dart renounced his U.S. citizenship and took his tax attorney with him to the Caribbean, the billionaire bond investor and local kingpin is reinventing himself as the Cayman Islands’ biggest real estate owner.

In a rare glimpse into Dart’s holdings, Mark VanDevelde, chief executive of the tycoon’s Cayman-based Dart Enterprises holding company, recently told Bloomberg that Dart is less interested in distressed foreign debt these days, increasingly turning his focus to luxury real-estate development on the Cayman Islands and elsewhere, especially in Latin America.