More fallout from the Goldman charges.WSJ:
The planned initial public offering of Propel Multi-Strategy Fund, created to give investors exposure to two funds for which Paulson is the trading adviser, has been delayed given the U.S. Securities and Exchange Commission’s civil fraud charges filed against Goldman Sachs Group Inc.
In February, we learned that an investor would open up a fund to Canadian investors
The WSJ apparently spoke with people who said the Multi-Strat fund’s marketing of the IPO was on track until the SEC charged Goldman with fraud. Paulson was only associated with the charges but the rumour is that some jittery investors pulled their orders anyways.
The offering is apparently now on hold. This is not looking good for Paulson. Clearly investors are reacting badly to the SEC news.
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