Paulson Protégé Up 175%

Nov 30 2009 | 12:24pm ET

Paolo Pellegrini can’t begin soliciting money from his former investors at Paulson & Co. until January. And when he does, he’ll have quite a story to tell.

Pellegrini’s new hedge fund, PSQR Management, is up 175.5% since it began trading in April 2008, according to the firm’s first quarterly report. The fund is up 80.84% this year following a 0.31% drop in September, and rose 52.36% in 2008.

PSQR—a play on P-squared for Pellegrini’s initials—has had six down months in its first 18, including two this year. The fund made most of its money this year in January, soaring 66.94%. The only other month in 2009 that it was up or down more than 1% was February, when it rose 5.81%. The fund’s big returns in December—it rose 23.84%--January and February stemmed from its bearishness on long-date U.S. Treasuries, the firm said in the report.

Pellegrini, one of the architects of Paulson & Co.’s hugely profitable bet against subprime mortgages, left the New York-based hedge fund at the end of last year.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

FINalternatives Trending

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

FINalternatives Most Popular

Futures Most Popular

Hard Assets Trending

Publisher's Note