Private equity billionaire Stephen Deckoff has purchased two Caribbean islands formerly owned by the late Jeffrey Epstein, Forbes reports.

Deckoff, who paid $60 million for the islands, which were on the market for more than a year, issued a press release Wednesday laying out his plans to build a 25-room “world-class” luxury resort on the property.

A 12-year resident of the Caribbean, Deckoff never met Epstein or set foot on the islands until they were put on the market after the convicted sex offender's death in 2019.

“I’ve been proud to call the U.S. Virgin Islands home for more than a decade and am tremendously pleased to be able to bring the area a destination befitting its natural grace and beauty,” Deckoff said in a statement.

“I very much look forward to working with the U.S. Virgin Islands to make this dream a reality,” added Deckoff, who aims to open the resort in 2025.

The islands, Little St. James and Great St. James, are just off tourism destination St. Thomas. Totaling 230 acres, they already have a helipad, several pools and guest villas.

Epstein bought Little St. James in 1998 for a reported $8 million and Great St. James in 2016 for an estimated $22.5 million.

Epstein lived in a large mansion on Little St. James, which is where he is alleged to have conducted a sex trafficking ring and hosted notable politicians and elite, including King Charles III’s brother, Prince Andrew, Duke of York. The island was henceforth dubbed “pedophile island.”

As per the settlement of Epstein’s estate with the U.S. Virgin Islands, which won a 2020 lawsuit for $105 million in tax benefits, half of the proceeds from the purchase will be put in a trust to provide counseling for victims of sexual abuse.

Deckoff, whose net worth Forbes estimates to be $3 billion, worked at Drexel Burnham Lambert, Bear Stearns and Kidder, Peabody & Co., before opening his own private equity shop, Black Diamond Capital, in 1995.

Based out of Stamford, Conn., with $9 billion in assets, Black Diamond specializes in high-yield debt, distressed debt and business turnarounds.

A New York native, Deckoff moved to the U.S. Virgin Islands in 2011, where he has donated $1.2 million to nonprofits, primarily private schools and nature preservation organizations, and for the economic redevelopment of the islands after Category 5 Hurricanes Irma and Maria wreaked havoc in 2017.