Billionaire investor George Soros joined Northern Trust Corp. and BlackRock Inc. in cutting holdings of exchange-traded products backed by gold before a bear market in prices last month, while John Paulson maintained a stake that lost about $165 million in the first quarter.
Billionaire John Paulson sought bankruptcy court protection for a real estate unit of his hedge fund after executives there were sued for alleged conflicts of interest in the asset sales of five bankrupt resorts.
Billionaire John Paulson, the hedge- fund manager seeking to reverse two years of losses in some of his strategies, lost 27 percent in his Gold Fund last month after the precious metal and related securities plummeted, according to two people familiar with the matter.
Gold fell after Dutch Finance Minister Jeroen Dijsselbloem discussed details for the European banking union project, adding to signs that the leaders will act to contain the region’s fiscal crisis and eroding demand for haven assets.
Hedge funds including Paulson & Co. Inc. are pushing Congress to abandon plans to liquidate Fannie Mae and Freddie Mac as investors buy up preferred stock that has long been considered worthless, according to people with knowledge of the discussions.
Billionaire John Paulson’s Bermuda venture, which positions its owners to avoid taxes on hedge fund earnings by routing money through a reinsurer, sold about 3 percent as much coverage as competitors in its first year.
John Paulson, the hedge-fund manager trying to recover from more than two years of losses in some of his funds, told investors he likes convertible bonds, according to a person familiar with the matter.