Billionaire Paulson’s Merger Hedge Fund Said Up 10% in 2015
ByBillionaire John Paulson’s merger strategy has gained 10 percent this year lifted by consolidation among drugmakers.
The $19.3 billion New York-based firm posted a 0.7 percent return last month in a merger fund that uses leverage to amplify gains, according to three people familiar with the matter, who asked not to be identified because the information is private. An unlevered version rose 0.3 in March and is up 4.5 percent this year.
The firm’s merger strategy is its oldest and largest, with $10.1 billion, one of the people said. The funds have been a bright spot for Paulson & Co. in recent years, growing from $7 billion at the start of 2014, as some wagers on the U.S. recovery, gold and Europe caused losses that spurred withdrawals…
Billionaire Paulson’s Merger Hedge Fund Said Up 10% in 2015
