Thursday, 2 July 2015
Last updated 6 hours ago
Jun 6 2011 | 1:14pm ET
A piece of the New York Mets may not be David Einhorn's most valuable investment in the New York City borough of Queens.
Einhorn's hedge fund, Greenlight Capital, is storing some of the hundreds of millions of dollars in gold bullion it owns in a secured facility in Queens, Reuters reports. It also houses some of its physical gold in HSBC's vault in Manhattan, and has pledged some of its gold as collateral in a deal with Goldman Sachs.
Greenlight launched a dedicated gold fund last year that has about $556 million in assets under management; the firm itself manages $7.8 billion.
Einhorn is currently negotiating the terms of his purchase of a one-third stake in the Mets.
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…