Roubini Global Economics, the economics research firm begun by noted economist Nouriel Roubini, is for sale, according to sources who have been approached by an investment bank conducting an auction for the firm.
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Nouriel Roubini
RGE, as it's known, has grown quickly since its founding by Roubini, who is its chairman. It has over 85 employees, and is still losing money.
According to people who have seen the offering book for the sale, the firm is projected to have revenues of $14 million this year and it will post a loss of roughly $2 million dollars, and projects eight percent revenue growth into next year followed by 40 percent revenue growth in 2013.
Roubini, who has been in Korea, has not returned calls and a spokesman at the firm declined comment.
Bidders are being told to submit a range of what they would be willing to pay, but it's unclear whether there will be any takers.
The firm has been expanding its research offerings, but people who have seen the offering document tell me many of the firm's clients are corporations, not investors, making it unclear how much new business can be obtained by any buyer of RGE.
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