Paul Singer Significantly Ups His Stake In Fondul Proprietatea

Paul Singer is the largest investor in Fondul Proprietatea, the largest closed-end fund in the world. During the last quarter, Elliot Associates increased its position in Fondul by 25%, bringing it from 15.2% to 19.7%. The fund just reported its highest profit ever at 48%, compared to 2013.

Also see Elliott Up In November, With Some Help From Kabel Deutschland

Introduction to Fondul Proprietatea

The fund was created by the Romanian state to reimburse Romanian citizens for the assets that were confiscated by the Communist regime. Since 2010, the fund has been managed by Mark Mobius's Franklin Templeton, and since 2011, the fund has been listed on the Bucharest...