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Paulson Launching Real Estate Recovery Fund

Paulson Launching Real Estate Recovery Fund

Date: May 22nd, 2009
With $29 billion under management and $2 billion earnings this year, Paulson & Co. is planning to launch a new hedge fund that will invest in the distressed real estate markets. According to an article from The Independent, the Real Estate Recovery Fund will utilize a "private-equity" investment style that will require investors to commit to lengthy lock-up periods.

The fund will be managed by Lead Manager Mike Barr who will be assisted by Vice-President Jonathan Shumaker. Barr and Shumaker previously worked together on the real estate private equity team at Lehman Brothers.

Any new investors will likely have to be very patient, as the fund will seek to profit once real-estate prices regain buoyancy. Mr. Paulson himself recently wrote in a letter to investors that he believed the recession would last until 2010.
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