John Paulson reportedly eyes distressed deals

John Paulson, whose hedge fund has fared better than many of late, is looking at distressed investing, according to a Bloomberg report Wednesday, which read:

Paulson said that while he's bearish on the overall economy, he is looking to buy distressed mortgages and distressed debt, and is interested in investing in debt restructurings, bankruptcies, strategic mergers and financial recoveries.

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Meanwhile Paulson, through his $36 billion hedge fund Pauson & Co. -- along with J. Christopher Flowers' firm J.C. Flowers & Co. LLC and Dune Capital Management LP -- is leading the charge to acquire bankrupt IndyMac Federal Bank, the troubled institution the Federal Deposit Insurance Corp. seized in July, the Wall Street Journal reported Tuesday. A deal could come this week and could be worth nearly $14 billion. -- Carolyn Murphy

See Bloomberg story
See Dealscape: Could IndyMac's purchase prompt more PE investments in banks?
See Deal Journal item on Paulson's hedge fund

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