Paulson Said to Exit Genworth Before Shares Plunged
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John Paulson, the billionaire hedge-fund manager, exited a stake in Genworth Financial Inc. before the insurer reported a record loss, according to a person familiar with the matter.
Paulson ended his investment by Sept. 30, according to the person, who asked not to be identified because the move hasn’t been publicly disclosed. Paulson’s funds held 9 million shares of Richmond, Virginia-based Genworth as of June 30, according to a regulatory filing, a stake of about 1.8 percent.