Stock Market Rally Spurs Investment in New Tax-Saving Funds
- Bridge has raised almost $2 billion for U.S. opportunity zones
- Tax breaks are controversial, but enjoy bipartisan support
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The stock market’s strong rebound last year after pandemic lockdowns was a boon for a new type of fund that taps Trump-era tax breaks.
Bridge Investment Group said its strategy of developing real estate in designated “opportunity zones” hauled in almost $2 billion from investors by the end of last year. That’s roughly double the amount the Salt Lake City-based firm had raised through 2019.