 |
 |
US firm targets Gulf with $1bn property fund
March 10, 2010
Blumberg Capital Partners, a leading US-based investment firm, has launched a $1bn commercial real estate fund to capitalize on distressed properties in the US, the Gulf and Brazil, the firm's CEO has said.
Almost a third of the capital will be ringfenced for possible investment in the Gulf and the equity fund has attracted interest from local sovereign wealth funds keen to diversify their real estate portfolio, said CEO and founder Philip Blumberg.
"We're seeing very significant interest from the Gulf region in particular. We have both interest and some commitments from institutional and individual investors. The commitments, both soft and hard, are in excess of $100m," he said. "Our first closing will be at $100m and we're well on the way to that."
Original Posting At: ArabianBusiness
Almost a third of the capital will be ringfenced for possible investment in the Gulf and the equity fund has attracted interest from local sovereign wealth funds keen to diversify their real estate portfolio, said CEO and founder Philip Blumberg.
"We're seeing very significant interest from the Gulf region in particular. We have both interest and some commitments from institutional and individual investors. The commitments, both soft and hard, are in excess of $100m," he said. "Our first closing will be at $100m and we're well on the way to that."
Original Posting At: ArabianBusiness
|
