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David Einhorn's Greenlight Capital raises $130 million for Gold Hedge Funds

Date: Tuesday, May 25, 2010
Author: Hedgetracker.com

David Einhorn's Greenlight Capital is the latest blue-chip hedge fund manager to raise assets for gold focused hedge funds. At the start of 2010, John Paulsonís Paulson & Co. launched a gold hedge fund with more than $250 million in assets.

The Paulson gold hedge fund served to focus the firmís gold strategy in one large fund, rather than increasing gold exposure across its other hedge funds. Although the hedge fund manager has not officially commented on its fundraising efforts, it appears that Greenlight Capital may be pursuing the same approach to gold investing.
According to SEC filings, the new gold offerings Greenlight Capital (Gold), LP and Greenlight Capital Offshore (Gold), Ltd. raised $128,519,640 and $2,563,446, respectively.

David Einhorn founded Greenlight Capital in 1996. The firm manages a series of value-oriented alternative investment vehicles. Mr. Einhorn is well-known for publically attacking Lehman Brothers well before the investment bankís ultimate demise.