Monday, 24 April 2017
Last updated 2 days ago
Apr 21 2010 | 2:20am ET
Paulson & Co. has taken a big stake in private equity firm American Capital, which is raising money to restructure its debt.
The New York-based hedge fund is buying about 13% of American Capital, part of a $295 million stock offering to institutional investors. Paulson is scooping up 43.7 million of the 58.3 million common shares on offer at a 5% discount to Friday’s closing price.
The deal will make the $32 billion hedge fund Bethesda, Md.-based American Capital’s largest shareholder.