Paul Singer’s Flagship Fund Raises $5 Billion in 24 Hours
- Elliott Management gathers most ever for its main hedge fund
- Capital commitments may be deployed over the next 2 to 3 years
Paul Singer
Photographer: Jacob Kepler/BloombergThis article is for subscribers only.
Paul Singer raised $5 billion in about 24 hours for his hedge fund, making it the firm’s biggest capital gathering ever, according to two people familiar with the matter.
Elliott Management wants cash on hand to take advantage of a large opportunity that could arise “when investor confidence is impaired, recent correlations and assumptions don’t work, and prices are changing rapidly (and in the ‘wrong’ direction),” the firm told clients in an update seen by Bloomberg News.