July 1, 2020 / 3:26 PM / a month ago

John Paulson to turn hedge fund firm into family office - Bloomberg News

July 1 (Reuters) - Billionaire John Paulson is turning his hedge fund firm into a family office after setting the stage for the conversion last year, Bloomberg News reported on Wednesday, citing a letter from him to investors.

"After considerable reflection and careful thought, Paulson & Co. will convert into a private investment office and return all external investor capital," he wrote in the letter, the report here said.

Reporting by Bharath Manjesh in Bengaluru; Editing by Shinjini Ganguli

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