07/27/2008 05:12 am ET Updated May 25, 2011

Giuliani Restarting Fundraising Efforts In Possible Step Towards Gubernatorial Bid

Entering the real estate market at a time of profound turmoil, Rudolph W. Giuliani's company is planning an investment fund based on commercial and residential properties in New York and Washington, members of the venture said last week.

The fund is Mr. Giuliani's first formal foray into the real estate world and represents the continuing diversification of his business, Giuliani Partners, a management and consulting company he founded shortly after leaving City Hall in 2002.

In addition to his business efforts, Mr. Giuliani, the former mayor of New York City, continues to be active on the political front. This week he will be raising money for his federal political action committee, Solutions America, a senior aide said. He will also announce the creation of a state committee geared at helping Republicans retain their tenuous control of the State Senate. The creation of the state committee was reported on Saturday by The New York Post.

Despite rumors that Mr. Giuliani is considering a run for governor, the aide said, he has made no decisions about re-entering politics.

The people involved in the real estate venture said the fund would focus much of its energy luring foreign investors who see an opportunity in the continuing weakness of the dollar. Giuliani Partners has previously advised several investors in real estate matters.

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