Former mayor and Republican presidential candidate Rudolph Giuliani revealed late last month that he is entering the real estate investment world.
Giuliani announced that the management and consulting firm he formed in 2002, Giuliani Partners, will be raising a real estate investment fund to be called the Berman Enterprises Opportunity Fund, after the firm’s partner, Rockland, Md.-based Berman Enterprises.
The Berman Enterprises Opportunity Fund aims to raise $500 to $750 million for investment in residential and commercial properties in New York and Washington, D.C. It will largely seek investment from foreign investors, according to published reports.
Managing director at Giuliani Partners, Anthony Carbonetti, and managing partner Geoffrey Hess will oversee the fund. Carbonetti told the New York Times that Giuliani Partners had some real estate dealings in the past, including a failed bid on behalf of the government of Qatar to buy Stuyvesant Town and Peter Cooper Village in 2006.