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Tags: hedge funds | paolo pelligrini

Hedge Fund Manager Pelligrini to Return Money

Friday, 20 August 2010 02:20 PM

Disappointed with heavy losses this year, hedge fund manager Paolo Pellegrini plans to return his investors' money next month, a source familiar with his plans said on Friday.

After gaining more than 60 percent in its first year in 2009, Pellegrini's fund fell on hard times this year, chalking up an 8 percent drop in July which left it off 11 percent for the year, a person familiar with the fund said.

Pellegrini, who was instrumental in helping John Paulson earn more than $15 billion by betting against the U.S. housing market, set up his own fund firm, PSQR Capital, in 2009. He notified his investors of his decision on Friday.

The news was first reported by AR Magazine.

Pellegrini will continue to manage his own money and left open the possibility of relaunching this fund or another portfolio in the future.


© 2022 Thomson/Reuters. All rights reserved.


FinanceNews
Disappointed with heavy losses this year, hedge fund manager Paolo Pellegrini plans to return his investors' money next month, a source familiar with his plans said on Friday. After gaining more than 60 percent in its first year in 2009, Pellegrini's fund fell on hard...
hedge funds,paolo pelligrini
142
2010-20-20
Friday, 20 August 2010 02:20 PM
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