Omega Advisors CEO Leon Cooperman would not have "any particular interest" in making investments in Cuba, noting that more opportunity will continue to exist in developed countries.
"That's very far down on my list," Cooperman said in an interview on CNBC's "Fast Money Halftime Report" Wednesday.
The United States is beginning negotiations to normalize diplomatic relations with Cuba and open an embassy, CNBC reported Wednesday. The U.S. first imposed an embargo on the island nation in 1960, and the countries have held a contentious relationship for decades.
In a press conference, U.S. President Barack Obama spoke about improving relations with Cuba, which have been strained for decades, through a wide set of actions ranging from the easing of travel restrictions to some imports.
Despite his reservations about investing in a re-opened Cuba, Cooperman added that both nations had "a lot to gain" from the establishment of diplomatic relations.
"Hopefully we'll succeed in turning them around," Cooperman said of Cuba.