Middle Easterners Ready to Pounce on U.S. Media
Florida-based Blumberg, which manages about $1 billion, says his real estate funds have generated an average of 15% returns over a period of more than 15 years. While he can't make promises from his media fund, he claims the two asset classes are not so different. Both are "high-risk, capital intensive" industries, he argues.
Many in the market expect to see more large investors swoop in for bargains in the U.S., now that stocks are in correction mode and the dollar remains weak, many marquee foreign bets of late have seemed a tad early.
China's Blackstone investment has fallen 29% from the firm's IPO. And, Chinese bank Citic Securities of China's $3 billion investment in Bear Stearns (BSC) has fallen 17.5% since the deal was struck in October.
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