Sunday, 3 May 2015
Last updated 1 day ago
Apr 12 2013 | 12:48pm ET
Paulson & Co. plans to launch a new hedge fund designed to lower clients' tax bills.
Paulson yesterday sent an invitation to both current and potential clients to announce the launch of Paulson Partners Premium. The invitation said the fund would serve investors "looking to mitigate income taxes," but did not specify how it would do so. Presumably, details will be offered at an April 24 meeting at Paulson's New York offices.
Firm founder John Paulson will discuss the new "risk-arbitrage fund" during a 75-minute presentation. Fifteen of those minutes will be dedicated to tax-deferred and tax-free options for investing in the fund.
Paulson's oldest hedge fund, Paulson Partners, is a merger arbitrage strategy that has posted annualized returns of 15% since its 1994 debut, and recently breached its high water-mark. Paulson also runs a more highly-levered version of that fund, Paulson Partners Enhanced, which has annualized returns of 19%. Combined, the funds manage about $5 billion.
Paulson recently took heat over rumors that he was considering a move to Puerto Rico, which recently adopted a law waiving local and federal capital gains taxes for new residents. Paulson denied that he was planning to leave New York, his lifelong home.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…