Nov. 18 (Bloomberg) -- Paulson & Co., the hedge-fund firmrun by billionaire John Paulson, is starting a gold fund thatwill invest in mining companies and bullion-related derivatives,a person familiar with the plan said.
Paulson will invest as much as $250 million of his ownmoney in the fund, scheduled to begin Jan. 1, according to theperson, who declined to be identified because the informationisn’t public. John Reade, the former metals strategist at UBS AGin London, will join Paulson & Co. in mid-January, the personsaid. He was originally going to join Credit Suisse, the banksaid Oct. 29. A spokesman for Paulson declined to comment.
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