{"id":9564,"date":"2009-01-07T00:00:00","date_gmt":"2009-01-07T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"paulsons-pellegrini-said-to-resign-to-start-own-hedge-fund","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2009\/paulsons-pellegrini-said-to-resign-to-start-own-hedge-fund.html","title":{"rendered":"Paulson&#8217;s Pellegrini Said to Resign to Start Own Hedge Fund"},"content":{"rendered":"<p>Bloomberg &#8211; Paolo Pellegrini, the hedge-fund manager who helped Paulson &amp; Co. make more than $3 billion in 2007 on bets the U.S. housing bubble would burst, resigned to start his own fund, a person familiar with the matter said.             <\/p>\n<p>Pellegrini, 52, a manager of Paulson&rsquo;s credit opportunities funds, left on Dec. 31 in an &ldquo;amicable&rdquo; departure, said Armel Leslie, a spokesman for New York-based Paulson &amp; Co. John Paulson, founder of the firm, which oversees $36 billion, couldn&rsquo;t be reached for comment.     <\/p>\n<p>Paulson and Pellegrini became convinced in 2006 that investors were overvaluing mortgage-backed securities whose risk for losses they or credit rating firms had misjudged, according to client letters obtained by Bloomberg News. The firm&rsquo;s credit opportunities funds soared about sixfold in 2007 as mortgage defaults rose and the value of the securities declined.     <\/p>\n<p><strong><br \/><a href=\"..\/news\/news_land.php?i=http:\/\/www.bloomberg.com\/apps\/news%3Fpid%3D20601087%26sid%3DaMLo5cShd3pY%26refer%3Dhome\" target=\"_blank\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; Paolo Pellegrini, the hedge-fund manager who helped Paulson &amp; Co. make more than $3 billion in 2007 on bets the U.S. housing bubble would burst, resigned to start his own fund, a person familiar with the matter said. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2410,5232,82,64,5231,5109,5234,37,5233,4504,4682,129,4413,3093,5106,86,4545],"class_list":["post-9564","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-amp","tag-armel","tag-bets","tag-bloomberg","tag-client-letters","tag-credit-opportunities","tag-credit-rating","tag-hedge-fund-manager","tag-housing-bubble","tag-investors","tag-john-paulson","tag-losses","tag-mortgage-backed-securities","tag-mortgage-defaults","tag-paolo-pellegrini","tag-risk","tag-spokesman"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9564"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9564\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}