Tuesday, 5 May 2015
Last updated 13 min ago
Jul 1 2014 | 8:32am ET
Two Paulson & Co. strategies have outdone their peers through the first five months of the year, the firm told clients at its mid-year meeting.
The New York-based hedge fund’s credit opportunities fund is up 6.6% through the end of May, Reuters reports. Firm founder John Paulson said at the June 12 event in London that the portfolio is “fully invested” and designed to continue to earn such returns through next year, “outperforming in a low-yielding environment.”
Paulson also discussed the firm’s merger arbitrage strategy, which is up 3.3% over the same period. He said that merger arbitrage spreads are “becoming attractive,” citing Valeant Pharmaceuticals International’s hostile bid for Allergan Inc. and Mallinckrodt’s deal for Questor Pharma.
The talk came some two weeks before Paulson announced a big stake in Allergan and his support for Valeant’s offer, on which it is working with Pershing Square Capital Management.
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…