The enthusiasm of investors wanes in Trump's signature economic initiative.

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Financial Times 1w ago

The enthusiasm of investors wanes in Trump's signature economic initiative. - Financial Times

Quick Summary:

There are “an awful lot of projects under water right now”, said Robert Hutchins, founder of the New Jersey-based OZ fund Ellavoz Impact Capital.

Money is drying up for one of the signature US economic development programmes of the Trump administration, as investors balk at inflation, higher interest rates and the looming expiry of a lucrative tax benefit.

Brandon Lacoff, chief executive of Belpointe, the listed OZ that is trading at 55 per cent of its net asset value, said in an investor call in November that his firm did not have “the capital needed to build out all of its projects” and was exploring other ways to raise funds.