Blumberg Capital Partners was featured in an article on Emirates Business 24|7 today titled "US-based Blumberg to invest $400min GCC and Brazil". An excerpt:
Blumberg Capital Partners, a US-based investment management company, said it will invest around $400 million (Dh1.47 billion) into developing office projects in the GCC countries and Brazil through its newly-launched $1 billion off-shore real estate fund, company's chairman told Emirates Business.
"The Blumberg Strategic Asset Fund is targeted at $1bn, taking debt into account. Around 30 per cent or less of this will fund development of office projects in Brazil and Gulf. The expected annual return on the fund is likely to be around 26 per cent to 32 per cent," Philip Blumberg said.
Blumberg Capital said it has already received commitments to the tune of around $100m from six to 10 confirmed investors from the Gulf on this closed-end real estate fund.
To read the full article, click here.
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