The vulture has landed

While CEE markets are still coming to terms with the correction process, buyers with cash are on the look-out for opportunities. The first deals of the so-called vulture funds have already taken place. Who’s next in their sights?Mladen Petrov Elliott Spitzer, the former governor of New York who was dismissed after a prostitution scandal extensively covered by the media in 2008, made it back into the press a few months after he was forced out of office. However, this time the photos of Mr Spitzer were not appearing in the tabloids, but in the business columns. How was this possible? The disgraced governor has simply reinvented himself as an investor with an interest in real estate. The plan was simple: a team of investors formed by Spitzer in the summer of 2008 is on the look-out for distressed real estate assets around the US. With a kitty of as much as USD 500 mln