Paulson Gold Fund Features Lockup, $10M Minimum

Nov 23 2009 | 6:14am ET

John Paulson aims to give investors in his new gold hedge fund big returns. But they’ll have to agree to part with their money for at least one year, and pony up at least $10 million.

Paulson & Co. is shopping their new fund to investors, both in meetings and with a prospectus, Reuters reports. The dedicated gold fund will debut on Jan. 1, and will invest in gold-mining companies, gold-related equities and gold derivatives.

The fund will charges 1.5% for management and 20% for performance. After a one-year lockup, it will offer biannual liquidity with 60 days’ notice. And while the $10 million minimum investment may seem steep, Paulson himself plans to invest 25 times as much in the new fund.

He’s also added a pair of gold experts to assist on the new fund. Victor Flores joins from HSBC, where he was a senior gold-mining analyst. Paulson also nabbed John Reade, who had left UBS to join Credit Suisse. At UBS, Reade was a senior metal strategist.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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