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Casino and hotel operator Caesars had been pushed to consider a sale by Icahn, its biggest shareholder.
The letter Tuesday is the latest salvo in Litt's ongoing battle with the real estate company where he has been pushing for changes since 2016.
Chairman Richard Baker is stepping in with a cash bid valued at about $1.31 billion to take the company private.
The fund plans to invest in six projects in designated opportunity zones, including residential developments in Brooklyn and the Bronx, and a shopping center in Connecticut, sources say.
