Sun Hung Kai, Paulson to launch distressed fund
HONG KONG Jan 16 (Reuters) - Sun Hung Kai Financial (0086.HK), the Hong Kong financial group, on Friday said it will partner with hedge fund Paulson & Co to launch a distressed asset investment fund focusing on financial companies.
Sun Hung Kai said Paulson, run by legendary investor John Paulson who made billions of dollars betting against the U.S. housing market, will act as the fund's investment manager.
Sun Hung Kai did not disclose the size of the fund.
Paulson has approximately $29 billion in assets under management with offices in New York, London and Hong Kong.
(Reporting by Michael Flaherty, Editing by Jacqueline Wong)
- Tweet this
- Share this
- Digg this
- Missing Malaysian jet may have disintegrated in mid-air - source |
- Malaysian plane presumed crashed; questions over false IDs |
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- WRAPUP 8-Missing Malaysian jet may have disintegrated in mid-air - source
- Merkel raps Putin as Russian forces tighten grip on Crimea |