Although we are neither overly aggressive nor exotic in our approach, Blumberg Partners has produced among the strongest returns in the country.
We've operated fully discretionary investment funds since 1992. These have included open and closed-end commingled equity and mezzanine funds managed by Blumberg Partners. The firm has co-invested in all funds. Investors have included corporate pensions, foundations, banks, and qualified individual investors.
In funds directed to international investors, we utilize a sophisticated structure that provides a high degree of tax efficiency to non-US investors.
Our real estate investment management division, Blumberg Realty Investors, one of the most successful real estate investment managers in the U.S., in addition to managing our commingled funds, Blumberg Realty Investors has managed separate accounts for institutional investors. Our investment discipline emphasizes stability and preservation of capital, combined with market timing of opportunities to acquire and dispose.
Integral to our identification of global opportunities is preparation, due diligence, risk management, paying attention to downside, and a strict buy-sell discipline.
Preparation is market knowledge and measuring cyclical trends.
To limit downside risk in cyclical markets, our use of leverage is very moderate compared to industry averages.