By Daily Crux Editor Brandon Herrin:
Billionaire hedge fund manager John Paulson, of Paulson & Co., announced he would buy $100 million of CB Richard Ellis, the country's largest commercial real estate firm. The company is selling $400 million of 10-year notes and $150 million of stock to raise capital to pay down existing debt.
Last month, Paulson announced he was starting a private equity real estate fund
, the Paulson Real Estate Recovery Fund. He hired a former Lehman Brothers real estate banker and DR Horton executive to help manage it.
Paulson's sudden interest in real estate and his $4.3 billion gold position
are sure signs he is positioning the fund to profit from inflation.
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