Boutique investment management group Ashton Advisors (Ashton) is set to offer Paulson funds to wholesale investors in Australia and New Zealand after inking a partnership deal with New York-based fund manager Paulson & Co Inc (Paulson).
Three Paulson products will be offered through an Australian wholesale unit trust structure.
These include the Ashton-Paulson Recovery Fund, which will participate in recapitalising financial institutions, and the Ashton-Paulson Credit Opportunities Fund, which will invest in distressed mortgages, distressed debt and debt restructurings.
The Ashton-Paulson Event Driven Fund will participate in strategic mergers and event arbitrage.
The funds will participate in the recovery of a range of different asset classes.
"Investors will be able to select their mix of investments, depending on their asset class preference," Ashton managing director Nick Raphaely said.
There will be a limited capacity in the Ashton-Paulson funds, he said.
"In 2008, the worst year in the equity markets since 1931, Paulson's products returned between 6 per cent and 38 per cent," Raphaely said.
"As one of the very few firms globally to have successfully navigated last year's treacherous market conditions, Paulson is uniquely placed to profit from the market recovery."
Paulson is an investment management company founded in 1994 that manages approximately $29 billion in assets.
