Citigroup’s (C) private bank is yanking about $500 million
from Paulson & Co., the hedge fund run by billionaire John Paulson seeking
to reverse record losses in 2011, according to two people familiar with the
matter told Bloomberg.
The private bank is redeeming from Paulson’s Advantage Fund
and Advantage Plus Fund, said the people who asked not to be identified because
the information is private.
Armel Leslie, a spokesman for New York-based Paulson, and
Natalie Marin, a spokeswoman for Citigroup, also based in New York, declined to
comment.
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