Saturday, November 19, 2011

Paulson Said to Cut Risk in Main Hedge Funds

John Paulson, the billionaire hedge- fund manager having his worst year, is cutting risk in his hedge funds further as the European sovereign-debt crisis roils markets, according to two people briefed on the matter.
New York-based Paulson & Co., which has $28 billion in assets, has cut the so-called net exposure in its main hedge funds to 30 percent, Paulson told investors on Nov. 14, according to the people, who asked not to be identified because the company is private. It was 60 percent about four months ago

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