Eliot Spitzer Looks To Create Vulture Fund
Eliot Spitzer, disgraced former governor of New York, has been putting feelers out to start a vulture real estate fund. After getting bounced out of office because of his affair with the high priced call girl and building a career out of championing the rights of the little guy.
Now he is entering the world of Vulture Real Estate investing. For those that do not know, that is going after properties that have owners in a position of financial weakness.
So my guess is that Spitzer’s dedication to the common man lasted about as long his political career. Or both ended after being busted with the call girl.
There are a bunch of great lines but this is a family site…
Spitzer met with several former colleagues last month where they spoke about his interest in participating in his father’s real estate business and in distressed assets created by the subprime crisis, among other things, the source said.
An earlier report in The New York Sun on Tuesday cited a source claiming Spitzer had approached Washington, D.C.-based labor union officials to pitch his idea for a vulture fund and that he was looking to pursue distressed real estate projects valued between $100 million and $500 million. Vulture funds invest in distressed assets.
A spokeswoman for Spitzer said the former governor’s future plans are not yet clear. via Reuters.
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