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 Paulson’s Paulson & Co. launched a gold hedge fund
with more than $250 million in assets.
The Paulson gold hedge fund served to focus the firm’s 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 bank’s ultimate demise.
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