Thursday, 2 July 2015
Last updated 12 hours ago
Apr 2 2007 | 10:23am ET
Paulson & Co. made a killing in the first two months of the year as the sub-prime mortgage market was hemorrhaging.
The firm’s Paulson Credit Opportunities fund returned a whopping 83% in January and February, buoyed by its bet against U.S. sub-prime mortgage lenders. The fund’s assets now exceed $500 billion, Financial News reports.
The fund was up 21.3% in February, according to an investor letter and Securities and Exchange Commission filings. Four of its funds made a net gain of 61.5% by shorting sub-prime lenders.
After the boom, Paulson manages some $11 billion, $6.4 billion of which is in hedge funds.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…