Paulson & Co. Redemption
John Paulson's Hedge Fund Sees Redemptions Below 8%
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