West Palm Beach (HedgeCo.Net) – John Paulson’s $3.7 billion salary last year is attracting a lot more than just new investors for his hedge fund; it’s prompting hedge fund managers to say “Hey, if you cant beat ’em, join ’em.”
That’s what Investcorp wanted when they asked Paulson to help them launch their new Credit Opportunities Fund. According to the Telegraph, the Bahrain-based hedge fund is banking on the fact that credit markets are heading for a comeback, and will make investments in the mortgage and credit sectors.
Investcorp’s hedge fund division manages approximately $8 billion in assets. Like Paulson’s hedge fund, Investcorp bet heavily against the sub-prime mortgage crisis and garnered almost $2 billion from those bets. Now, they are expecting an upturn in the market and will invest accordingly.
While the roster of all-star hedge fund managers isn’t complete yet, Investcorp is believed to have recruited several managers from Paulson & Co., along with members of MKP Capital Management.
Investcorp was launched in 1982 and focuses mainly on private equity investments through its locations in New York, London and Bahrain. In addition to private equity and hedge funds, they also invest in real estate and technology, as well as focus on opportunities in the Gulf region.
Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net
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