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

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note