Donald Trump Jr. is planning a real estate hedge fund focusing on luxury properties in India.
The son of famed real estate developer and media personality Donald Trump will raise as much as $1 billion for the privately-held fund, Bloomberg News report. Analysts expect property prices in the subcontinent to drop by about 20%, creating opportunities for the hedge fund.
"The fund will be for acquisitions of real estate in the high end, and across the spectrum," Trump told Bloomberg. "The marketplace is beginning to understand and appreciate luxury, so there is a great opening for us there, as well as in resorts."
The Wharton School graduate did not give specifics about how he will raise the money, except to say that an Indian family is among his investors.