Merrill Lynch hedge funds

Bank of The united states's Merrill Lynch wide range management arm is pulling investor cash from a single of hedge fund manager John Paulson's funds.

Merrill is liquidating client funds from Paulson & business's positive aspect fund.

The redemptions total $81 million, based on someone knowledgeable about the situation. Which comparable to around 4per cent associated with investment's around $2 billion.

See your face stated Merrill Lynch has actually offered consumers the option of shifting their particular redeemed resources into Paulson & Co.'s more successful M&A investment.

The news headlines associated with redemptions was first reported because of the nyc days.

A Bank of America representative informed company Insider: "As part of our dedication to our consumers, currently rigorous initial due diligence and ongoing detailed analysis of all of the resources on our platform, and stay in constant discussion with investment supervisors with regards to changes to the resources or their particular administration."

The decision to get the opportunities accompanied problems over illiquid assets, according to an extra individual familiar with the situation.

Paulson's Recovery Participation investment has additionally been wear "heightened review, " according to the 2nd person. The company