Paulson Buys Puerto Rico Resort

Sep 24 2013 | 9:42am ET

Paulson & Co. has bought a majority interest in an exclusive beach resort on Puerto Rico—the Caribbean island firm founder John Paulson was rumored to be moving to earlier this year.

The New York-based firm's Recovery Fund took a majority interest in the St. Regis Bahia Beach Resort and Bahia Beach Resort & Golf Club. The two are located in Bahia Beach, an exclusive enclave in Río Grande, about 25 miles east of San Juan.

Paulson is taking control of the two properties with a majority stake in BBP Partners, the joint-venture that established Bahia Beach in 2007, through a comprehensive recapitalization.

"The St. Regis Bahia Beach resort is already one of the premier leisure travel destinations in the Caribbean, and there is increasing demand from both those looking to purchase holiday homes in Puerto Rico and from those living in or moving to the island," John Paulson said. BBP founders Interlink Group and Munoz Holdings will retain minority interests in the company.

Paulson himself has been known to vacation on Puerto Rico. Earlier this year, he was reportedly mulling a move to the U.S. territory to take advantage of a law that would save him millions on taxes.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of