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Paulson to Start Second Real Estate Fund After Decline in Assets

Billionaire John Paulson is starting another private-equity fund to invest in real estate, marking the second time this month that his money-management firm has revealed plans to raise additional assets.

Paulson & Co., which is based in New York, will seek capital for Paulson Real Estate Fund II LP as well as an offshore affiliate, according to a private-placement notice it filed with the U.S. Securities and Exchange Commission on April