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Reuters – Hedge fund manager John Paulson, who bet against financial companies after foreseeing the credit crisis, has been buying Citigroup Inc <C.N> shares over the past few weeks, the New York Post reported, citing sources.
Paulson bought around a 2 percent stake in Citigroup, a source told the paper. An investor with a 5 percent or higher stake in a company would have to make a disclosure with the U.S. Securities and Exchange Commission.
Sources told the paper Paulson believes Citigroup’s assets are undervalued. A spokesman for Paulson declined to comment to the paper on the hedge-fund manager’s investment activities.
West Palm Beach (HedgeCo.net) – Hedge fund tax manager at Wellington Management Company, John F. Harvey III, has joined international law firm Proskauer Rose LLP as a partner in the Boston office.
At Proskauer, Harvey will be a partner in the Tax Department, where he will focus on tax aspects related to the formation, operation and investment activities of a broad range of private investment funds, such as buyout, venture and hedge funds, among other things.
“John’s unique and varied skill set will serve as an ideal strategic complement both here in Boston and across the firm,” Steven M. Ellis, head of Proskauer’s Boston office, said. “Our private investment funds practice is extremely tax intensive and, as we expand our capabilities around the world, this experience becomes even more important. John is a key addition to what is already a tremendous platform.”
Proskauer’s Private Investment Funds Practice Group, which is recognized by Chambers USA, US Legal 500 and numerous other directories and publications as among the leading practices of its kind, represented sponsors in closing more than 125 funds with over $30 billion in committed capital and closed more than 450 investments in all types of funds, representing well over $19 billion, in 2008.
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
West Palm Beach (HedgeCo.net) – Hedge fund tax manager at Wellington Management Company, John F. Harvey III, has joined international law firm Proskauer Rose LLP as a partner in the Boston office.
At Proskauer, Harvey will be a partner in the Tax Department, where he will focus on tax aspects related to the formation, operation and investment activities of a broad range of private investment funds, such as buyout, venture and hedge funds, among other things.
“John’s unique and varied skill set will serve as an ideal strategic complement both here in Boston and across the firm,” Steven M. Ellis, head of Proskauer’s Boston office, said. “Our private investment funds practice is extremely tax intensive and, as we expand our capabilities around the world, this experience becomes even more important. John is a key addition to what is already a tremendous platform.”
Proskauer’s Private Investment Funds Practice Group, which is recognized by Chambers USA, US Legal 500 and numerous other directories and publications as among the leading practices of its kind, represented sponsors in closing more than 125 funds with over $30 billion in committed capital and closed more than 450 investments in all types of funds, representing well over $19 billion, in 2008.
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
