Paul Singer asks for $5 billion, gets it in less than a day
Paul Singer is like a comic book villain.
Singer is vulture capitalism personified. He fought the government of Argentina for more than a decade over distressed debt and won. He lobbied governments to seize their ships. He confiscated the private jet of Peru's former president.
He's worth at least $2 billion. And he's made his investors billions more. So when he put out a note saying he was looking for $5 billion, he got it overnight and now manages close to $40 billion.
Why does he want it? He didn't even need to say. In the note to clients, Singer said it would be used toward the "possibly large opportunity set that could emerge when investor confidence is impaired, recent correlations and assumptions don't work, and prices are changing rapidly."
