Elliott, Paulson May Bid For Bankrupt Mall Co.

Mar 23 2010 | 3:32am ET

A pair of prominent hedge funds may seek to push out another pair of prominent hedge funds in the ongoing battle for the future of mall operator General Growth Properties.

Elliott Associates and Paulson & Co. have held talks with General Growth, which is seeking the exit bankruptcy. Under the plan, the two hedge funds would join a restructuring bid led by Brookfield Asset Management, Bloomberg News reports.

Brookfield, which is proposing a $2.63 billion investment in General Growth, is already paired with two other hedge funds, Pershing Square Capital Management and Fairholme Capital Management. The former is General Growth’s largest shareholder, the latter its biggest unsecured creditor. Elliott itself is also a major shareholder and creditor of the company.

It is unclear whether Elliott and Paulson plan to try to push out the other hedge funds or join them. They could also be joined by other hedge funds; Bloomberg cited Luxor Capital Group as a potential partner.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 6:49am ET

Rumors that Steve Cohen was interested in the Brooklyn Nets emerged after Scott...

Guest Contributor

Investors Benefit From Evolution Of Fund Of Hedge Funds Model

Jan 22 2015 | 12:27pm ET

The evolution of the fund of hedge funds model over the last few years represents...

 

Editor's Note