Paulson To Close Advantage Funds To New Money

May 11 2010 | 12:03pm ET

Paulson & Co. will close its largest hedge funds to new investments this summer, it told clients in a conference call yesterday.

The New York-based firm, which manages $35 billion, said it would restrict inflows into its Advantage funds, which manage about $20 billion. Paulson said it will only take in new money to replace redeemed investments, with further details to come in late June.


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