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Russian billionaire Mikhail Fridman, the founder and co-owner of Alfa Group Consortium, is going to invest up to $1 billion in properties on the east coast of the United States, The Wall Street Journal reported on Wednesday.
Mr. Fridman is launching a real-estate fund together with New York-based property developer and manager Rosen Partners to focus on distressed properties from Boston to Miami. The fund will invest into office complexes, hotels and dwelling realty. The businessman expects 20% annual profit.
In 2011 Mikhail Fridman holds the sevenths place in Forbes list of the richest people in Russia. His assets are estimated into $ 15 billion.
Author: Irina Fomina
