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From the Opalesque Team: According to Swiss daily "La Tribune de Genève" on Saturday (18-Apr-09), among those interested in U.S. Treasury Secretary Timothy Geithner's $100bn toxic asset plan, is John Paulson (initially revealed by French daily "Le Monde"), as well as the likes of Blackrock, Carlyle or Oaktree (and Calpers, as we heard last week).
Alexandre Col, head of fund management at Banque Privée Edmund de Rothschild in Geneva, confirmed: "the few names that are rumored to be interested, among them John Paulson's (with whom I have worked for several years), inspire confidence. They are therefore likely to create a snowballing effect." Indeed John Paulson did bet rightly ahead of the subprime market debacle and made a handsome profit.
According to Col, who is looking into Geithner's plan very closely and positioning himself for possible opportunities, hedge funds are perfect candidates for the plan because they have the means and they have distinguished themselves in the sphere of credit risk in the past. He believes that finding investors should not be a problem, as, despite the current crisis, there is still money around that "wants to be invested." However assets would have to be held longer than hedge funds' terms usually demand.
Related article: Bear Roubini: Why the Geithner-Summers plan is worse than you think
From RGE Monitor (06-April-09): The Geithner-And-Summers Plan (GASP) to buy toxic assets from the banks is rightly ...................... To view our full article Click here
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