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Citi to REDEEM $410 million from Paulson & Co hedge funds: Sources

Editor’s note: This headline was edited from the original article which said that Citi borrowed $410 instead of redeeming it.

Economic Times – The blows keep coming for hedge fund manager John Paulson, with Citi Private Bank deciding it will withdraw $410 million from his Paulson & Co hedge fund, according to people familiar with the decision.

Citi will redeem from the flagship Advantage portfolios, which have recorded double-digit losses so far this year, as well as the Merger and Recovery funds, which have made gains in 2012.

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