Spinoff Concludes Paulson & Co. Conversion

Paulson & Co. partner Andrew Klaber has spun off from the firm.

Klaber’s Bedford Ridge Capital launched Oct. 1, taking with it some $280 million of assets. And the private equity-focused operation already is setting out to raise additional capital.

For Paulson & Co., the separation completes a transformation into a family office for founder John Paulson. That process began in 2019, marking a dramatic shift for a multi-strategy operation that rose to prominence when it netted some $15 billion on short sales of subprime mortgage bonds during the 2007-2008 financial crisis...

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