Paulson No Fan Of Multi-Prime Approach

Apr 12 2012 | 11:30am ET

While many hedge fund managers have embraced the use of multiple prime brokers, Paulson & Co. is sticking with JPMorgan Chase, almost exclusively.

Seven of the New York-based firm's eight funds use JPMorgan as their prime broker, Paulson's recent Securities and Exchange Commission filing—required by new financial regulations—shows. The eighth fund also uses just one prime broker, Goldman Sachs.

The somewhat surprising revelation emerged despite Paulson's best efforts to conceal whatever it could in the new form ADV. Rather than name his funds, as many of his peers have done, Paulson's filing simply numbers them, Paulson Fund 1 through Paulson Fund 8.

Paulson couldn't hide anything. In addition to identifying its prime brokers, the firm was forced to name Rothstein Kass as its auditors and Plus Securities as its marketer.


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of