John Paulson Returns Money From Gold, Special Situations Funds
March 21, 2018, 9:08 AM EDT
John Paulson’s gold and special situations hedge funds are among those returning client capital as the firm narrows its focus after shedding almost $30 billion in assets.
One of the firm’s Credit Opportunities funds is also forcing clients to redeem, according to people familiar with the matter. A second credit fund will remain open, and investors can move their money into that offering. Investors can also switch into the merger-focused Pure Spread fund and the European Event Equities fund. A representative for the firm declined to comment.
Paulson’s namesake firm, once one of the biggest in the industry, is returning money to investors in some funds as it goes back to its roots of wagering on mergers and distressed credit,
Bloomberg reported on March 16. As assets at his firm have plunged from $38 billion in 2011 to $9 billion -- and most of that is Paulson’s personal fortune -- he has cut his staff and relocated offices.
more:
http://www.bloomberg.com/news/articles/2018-03-21/john-paulson-returns-money-from-gold-special-situations-funds
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