Billionaire John Paulson said publicly for the first time he may convert his hedge fund into a firm that solely manages his fortune, joining other high-profile names who made the change.
Bloomberg News reports that Paulson, 63, said he will probably make a decision over the next couple of years. He may run a hybrid business, with one part managing his money and the other running client capital with a profit-sharing arrangement with his partners, Paulson said in an interview on Mike Samuels’ “According to Sources” podcast.
His namesake hedge fund managed about $8.7 billion at the start of November. About 75% to 80% of its money is Paulson’s, he said on the podcast released Monday.
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