New York (HedgeCo.Net) – Donald Trump Jr. has plans to set up a $1 billion hedge fund that will amass property in India and capitalize on the nation’s economic growth, according to a report published on Bloomberg.com.
"The fund will be for acquisitions of real estate in the high end and across the spectrum,” said Trump. "I see a lot of opportunities. We’ll start it off relatively small and grow it as we get more familiar with the Indian market.”
Trump Organization Inc. will focus on the city of Mumbai, where they are planning the development of a hotel/residential project. Mumbai is the home of many wealthy Indians and is also the country’s biggest trading center for stocks and bonds.
"Our entry has to be in Mumbai and that’s where everything is going on right now in terms of the high-end real estate,” Trump added. "That’s the place where one is going to achieve the highest prices per square foot. It sets the tone for all of the other future developments.”
While the U.S. hasn’t fared so well, India’s real estate prices has experienced steady climbs for five straight years amidst rising incomes.
Trump may go in on the deal with other investors including an Indian family, though he didn’t get specifics as how he would go about raising capital.
Julie Scuderi
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