Sunday, 22nd November 2009

 

19 May 2009 - Press Briefing

Paulson eyes big returns with distressed property fund

John Paulson, the hedge fund titan who earned billions of dollars from his bet against sub-prime mortgages, is on the verge of unveiling a distressed property vehicle, according to a report in The Independent, London.

It is understood that Paulson & Co, which currently has client assets worth nearly $29bn (€21.3bn), is undergoing the final regulatory hurdles before raising capital for the vehicle, titled the Real Estate Recovery Fund.

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Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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