Hedge Fund Maven Paulson Gets Hong Kong License
Hedge fund manager John Paulson, who made his name betting against subprime mortgages in 2007, is the latest high-profile investor to expand into Asia. Mr. Paulson received a license from Hong Kong’s Securities and Futures Commission to deal in securities, according to a filing on the regulatory watchdog’s website. Mr. Paulson got a Type 1 license to deal in securities for his firm, Paulson Asia Ltd., on Feb. 21, according to the website.
Such a license gives Paulson Asia the right to deal in stocks, bonds, stock options and funds, but doesn’t cover futures contracts trading or asset management.
Three former Morgan Stanley Asia executives who left the bank in recent years are involved with Paulson Asia, according to the filing on the commission’s website. Sandra Lee, who left Morgan Stanley in July 2008, and Deng Xiaoli, who left Morgan Stanley in November 2009, are listed as “responsible officers” in the firm. Mr. Deng was formerly vice president at Morgan Stanley Alternative Investment Partners. Winnie Wong, who left Morgan Stanley in early 2008, is listed as a representative of Paulson Asia.