John Paulson’s latest bet on insurers is $800 million AIG stake
May 18, 2015 by Kelly Bit
(Bloomberg) — Billionaire John Paulson’s hedge fund firm bought a position in American International Group Inc. in the first quarter valued at $800 million at the end of March, in his latest bet on the insurance industry.
The New York-based firm purchased 14.6 million shares of AIG, according to a regulatory filing, joining Andreas Halvorsen’s Viking Global Investors in establishing a new position in the company during the quarter.
Paulson & Co. has successfully invested in mortgage guarantor Radian Group Inc. in 2012 and 2013 as a way to bet on a U.S. housing rebound. Click HERE to read article.