Deals
Paulson Fund Said to Jump 12% in Month to Erase Loss
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John Paulson, who became a billionaire by betting against U.S. mortgage markets, gained 12.4 percent with his main hedge fund in September to erase this year’s loss, said two people briefed on the performance.
Returns at New York-based Paulson & Co.’s Advantage Plus Fund, which uses strategies designed to profit from corporate events such as mergers or bankruptcies, improved as the Standard & Poor’s 500 Index posted its biggest rally for the month since World War II. Advantage Plus fell 4.3 percent in August before beating the S&P 500’s 8.8 percent increase last month.