Is there life after fixing America's biggest city, becoming an icon in the process, and running for leader of the free world?
There is for Rudy Giuliani, and it's in real estate.
Rumors swirl that the former New York mayor is preparing to run for governor of the Empire State, in 2010. Giuliani has set up a state committee to raise money for GOP candidates, according to the New York Post.
But, in the interim, it's all about property.
Giuliani left New York City Hall in 2002 and started consulting firm Giuliani Partners, which focuses on a variety of issues, including security and terrorism. The real estate operations will be an extension of that effort, according to The New York Times.
The fund aims to raise up to $750 million from investors to buy real estate in New York and Washington.
Jeffrey Berman of Berman Enterprises, a family company in Maryland and a partner with Giuliani in real estate, told the Times that minimum investment in the Berman Enterprises Opportunity Fund will be $25 million.
People close to the real estate plan told the newspaper that the venture will target foreign investors interested in taking advantage of the weak U.S. dollar.
Sovereign wealth funds fat with petrodollars and export gains in the Middle East and Asia have been snapping up New York landmarks, including recently the Chrysler Building. The funds also have bought huge stakes to prop up weakened Wall Street investment banks.
Giuliani has built up a network across the region by doing business advising through Giuliani Partners and through Bracewell & Giuliani, the former mayor's law firm.
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