New York Times Blogs – John Paulson, the hedge fund manager who reaped a windfall betting against the U.S. housing market before the credit crunch, is now hoping to ride to riches on the property industry’s recovery, The Telegraph reported.

Mr. Paulson’s firm, Paulson & Company, is in the early stages of raising money for a new private equity fund, Paulson Real Estate Recovery Fund, the newspaper said.

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Tags: amp-company, blogs, credit crunch, hedge-fund-manager, housing-market, new york times, private equity fund, raising-money, real-estate, rsquo, telegraph, windfall

Choregus (London) – It seems that West End Office Space in not impervious from the effects of the global economic slow down.

Whilst many had observed the West End continuing to perform despite the pressures, it seems that the credit crunch in finally starting to bite.  CBRE are reporting a 3.2% fall in rental values in the West End office market, with prestigious areas such a Mayfair and St James falling 4.2% to £115 per square foot.

In recent years the West End has been popular with private equity and hedge fund companies, who seek premium office space in prestigious locations.  However, while the City office market has been contracting in the past year, the West End had hitherto been holding up rather impressively.

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Tags: angela-merkel, finance, fund-managers, specifics, uma-thurman, upmarket, windfall