John Paulson’s ‘Money Machine’ Is Still in the Red After 2023’s Big Gains
- His Advantage fund returned 28%, Special Situations was up 32%
- Last year’s profits still not enough to offset earlier losses
A rebound at John Paulson’s family office boosted returns last year but it still wasn’t enough to keep the billionaire investor from having to play catch-up.
Funds at Paulson & Co. gained as much as 32% in 2023, according to a person with knowledge of the returns, who asked not to be identified because the information is private. The results were partly driven by investments in Greek bank Piraeus Financial Holdings SA, pharmaceutical firm Bausch Health Cos. and miners Agnico Eagle Mines Ltd. and International Tower Hill Mines Ltd.