NEW YORK (VINnews)-Warner Bros. CEO David Zaslav was outbid in his effort to purchase Mohawk Day Camp in Westchester County, despite raising his offer to $80 million, according to a report.

Zaslav, whose adult children attended the camp, initially bid $68 million for the property after the $400 million summer camp empire operated by brothers Michael and David Shabsels entered bankruptcy. The intense bidding war prompted him to increase his offer, sources told Page Six.

That amount was still insufficient. Multiple parties entered the fray, with one alleged real estate hedge fund offering nearly $100 million for the camp, the report said.

Zaslav had described the bid as a personal family investment. “This is a personal family investment that reflects our lifelong belief that summer camp can be a wonderful part of a child’s growth, and Mohawk’s history as a successful camp experience for so many kids, including our own,” he previously told Page Six.

A source familiar with the process said Zaslav raised his bid because he “wanted to keep it as a family tie.”

Mohawk is among roughly 30 camps affected by the Shabsels’ bankruptcy, which has drawn interest from real estate investors, camp alumni, healthcare executives and other wealthy bidders. Some in the camp community have expressed concern that outside buyers may seek to change the operations of the long-running facilities rather than maintain them as traditional camps.

Hedge funds including Rubric Capital and Drazin Capital have also pursued properties from the bankrupt portfolio through an entity called American Youth Camping. That group has bid on at least five camps, including $14.6 million for Camp Echo and $5.4 million for North Star. Canadian investor Sam Drazin of Drazin Capital bid $8.7 million for Camp Windsor Mountain. Nursing homes executive Daryl Hagler offered $6 million for Camp Mesorah.