(Bloomberg) -- British hedge fund billionaire Michael Platt’s superyacht is for sale — because he’s working on plans for a bigger one.

The 75-meter (246-foot) “Arrow” has an asking price of 139.9 million euros ($149.3 million), making it one of the most expensive on the market right now. 

The steel-and-aluminum yacht was built by Dutch shipyard Feadship and boasts six staterooms, a sky lounge with a bar, massage room, movie theater and expansive “masculine interior,” according to its listing with Fraser Yachts.

Arrow’s sale is part of a plan to trade up. The financier is working with Feadship on a new yacht that will be 110 meters, according to a person familiar with his plans, who asked not to be identified discussing private information. 

Arrow will be the largest yacht on display at the Palm Beach International Boat Show, which begins next week.

Platt, 54, is Britain’s second-richest person with a fortune valued at $11.2 billion, according to the Bloomberg Billionaires Index. His BlueCrest Capital Management gained a record 153% last year, which boosted his fortune by $3 billion.

BlueCrest has lost about 7% this year, Bloomberg reported Friday.

Platt is also scaling up in New York real estate. He recently listed his penthouse on Central Park South for $21 million and is planning to move to a full-floor apartment in the newly built Central Park Tower, the person said.

A spokesperson for Platt declined to comment. 

--With assistance from Amanda Gordon.

(Updates with details of boat show starting in fifth paragraph.)

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