Paulson Scoops Up 13% Stake In P.E. Firm American Capital

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.

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