Tags: spitzer | real | estate | fund

Report: Spitzer Starting Real Estate Vulture Fund

Tuesday, 10 Jun 2008 03:26 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

NEW YORK (Reuters) - Former New York Gov. Eliot Spitzer is looking to build a vulture fund to invest in distressed real estate assets, according to a report in The New York Sun.

Citing a source, the newspaper said that Spitzer held a half-hour meeting with Washington, D.C.- based labor officials to pitch his idea for the fund, and that he was "determined to take his father's real estate company to the next level."

According to the report, Spitzer is envisioning investments in distressed real estate projects valued between $100 million and $500 million and later plans to ask labor officials to consider investing pension fund money in his venture.

A representative for Spitzer did not immediately return a call seeking comment.

Spitzer's father, real estate developer Bernard Spitzer, is a self-made multimillionaire known for building one of New York City's largest real estate firms.

The younger Spitzer resigned as governor in March after he was caught on a federal wiretap arranging to meet a prostitute in a Washington hotel room.

Two people in the case who managed the prostitution ring have already pleaded guilty. Spitzer has not been charged in the case and prosecutors refuse to say whether he will face criminal charges.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved