Iraq: the upcoming "goldmine" for Wall Street investors?
Wall Street and hedge fund “super investment managers” are descending on Baghdad seeking the next up and coming frontier for investors. Northern Growth Partners, a New York based hedge fund will be opening a new IRAQ fund to investors in three weeks.
Other private equity funds and direct investment funds will be following suit in the coming months. They are all betting that Iraq will be the next gold mine for Wall Street investors.
While most of these companies say that Iraq is probably still two years away from being called “an emerging economy,” business has been notably improving since August 2008, which is when the “surge” began in Iraq. Violence did not disappear, but has subsided since the surge, and businesses are returning to Iraq.
Northern Partners is apparently acquiring an existing private equity fund that has been investing in Iraq for a few years. Partners of the fund include Zaab Sethna, who served as a political consultant to the Iraqi opposition and Ahmed Chalabi, as well as being the spokesman of the Iraqi National Congress.
Other partners include the author and journalist Bartle Bull, who covered the Iraq War for publications in the US and Europe. He is currently the editor of Middle East Monitor and the foreign editor of Prospect. RP Eddy is a counter-terrorism expert at the conservative Manhattan Institute and chief executive of Ergo Advisors,a risk advisory firm.
more:
http://www.huliq.com/8684/87817/iraq-upcoming-goldmine-wall-street-investors
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