Paulson & Co. Redemption
John Paulson's Hedge Fund Sees Redemptions Below 8%
With all the talk of massive redemptions made by investors in Paulson & Co., gross redemption requests below 8% isn't actually
that bad. There had been rumors circulating during the volatile weeks of trading that investors were rapidly pulling out of John Paulson's massive hedge fund but his announcement this week of the redemption requests seems to have put those rumors to bed at least for now.
Only hours after a critical deadline passed on October 31, the billionaire hedge fund manager told investors that the firm had received gross redemption requests totaling less than 8 percent of the firm's assets under management, three people familiar with the matter said on Tuesday.
A quick calculation suggests that Paulson, who most recently oversaw $30 billion in assets, would have to return roughly $2.4 billion to investors who have asked for their money back by the year's end.
A spokesman for the firm declined to comment.
News of the number puts to rest heavy speculation about Paulson's ability to hold onto money during bad times. Source
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