Paulson & Co. has cut its exposure to the subprime home loan market by 86% following massive gains on bets against the battered sector, reports Bloomberg News. The New York-based hedge fund manager said that it expects to continue profiting off home price declines and delinquent borrowers because its Credit Opportunities funds kept subprime-related “short” positions. At the same time the firm “felt it advisable to lock in most of the gains,” according to an investor report. Paulson & Co. has doubled assets under management to $24 billion this year.
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Most Viewed: Securitization
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||6,103||21||10.16|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||65,088.22||185||9.44%|
|3||Wells Fargo Securities||55,825.35||161||8.10%|