*Blumberg Capital Partners* - the US-based realty private equity fund plans to invest $100 Mn in India.
The fund will look at Tier II cities and will only be a passive investor. Passive investors only expect returns on their money. They do not manage the properties they invest it. Blumberg will provide funds for redevelopment projects as well. It is raising $1 Bn from high net-worth individuals and institutions to start a real estate fund that will invest up to 30% in non-US assets, particularly in the Persian Gulf and India. Blumberg Capital Partners was founded in 1979 by Philip F. Blumberg. It generated 17% returns on its fund. The firm has 3 funds at present. BCP also has plans to invest $400 Mn into developing office projects in the GCC countries and Brazil through its newly-launched $1 Bn off-shore real estate fund- The Blumberg Strategic Asset Fund. Around 30% 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% to 32%. The vehicle will charge a 1.5% management fee. After limited partners receive an 8% preferred return, Blumberg is entitled to 80% of profits until it amasses 20% of cumulative profits. It then gets 20% of any additional profits. The fund is its first debt focused fund. It would also look at distressed properties, take equity stakes in projects and invest in corporate debt. The Indian investments are also likely to be from the same fund. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
