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Real Estate Investment Firm Blumberg Capital To Launch Petrodollar-Backed $1.5 Billion Media Fund

With capital from the Middle East rapidly being directed to US industry, it only makes sense that some of it should head towards media. Commercial real estate investment firm Blumberg Capital Partners is gearing up to launch a media-focused fund, with much of its funding coming from Mid-East investors, reports TheStreet.com. According to CEO Philip Blumberg, the idea of starting a media fund was prompted by the expressed interest of oil-rich investors to target the sector. The fund, which will have $1.5 billion in buying power, will target a range of assets, including newspapers, movie studios and online media, both public and private.