Atlanta Business News – John Paulson, the New York hedge-fund manager who made billions betting against the overheated housing market, is now betting big on Atlanta-based SunTrust.
According to a company filing this week, Paulson’s hedge fund increased its stake in SunTrust to 30.4 million shares as of Dec. 31 of last year, up from 1.5 million on Sept. 30.
Paulson & Co. is SunTrust’s largest investor, controlling more than 6 percent of the company.
