Friday, 27 March 2015
Last updated 4 hours ago
Apr 25 2014 | 10:05am ET
Puerto Rico may be in economic extremis at the moment. But John Paulson believes the U.S. territory will survive, and thrive, to stake its place among the most important financial centers in the world.
Paulson, who was in the island’s capital, San Juan, yesterday for the Puerto Rico Investment Summit, predicted that Puerto Rico would become the Singapore of the Caribbean. Paulson’s firm, Paulson & Co., has invested heavily in Puerto Rico, and Paulson himself briefly toyed last year with moving to the island to escape U.S. taxes.
Paulson said he is buying up land in Puerto Rico while the opportunity continues, and that he’ll build high-end developments to house people who, unlike himself, make the move to Puerto Rico to take advantage of Puerto Rican laws encouraging rich Americans to move to the island.
“We are interested in future development opportunities,” Paulson said.
Puerto Rico said it expects Paulson to invest up to $1 billion on the island by the end of next year.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…