Citigroup Private Bank Said to Redeem From Paulson Fund
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Citigroup Inc.’s private bank is pulling about $410 million from Paulson & Co., the hedge fund seeking to reverse record losses in 2011, according to two people familiar with the matter.
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. Citigroup is also pulling from the Merger and Recovery Funds, the people said.