Paul Singer Ups His Stake In Fondul Proprietatea To 20%

Paul Singer Increases His Stake In Fondul Proprietatea by Fit Investment Ideas Paul Singer today reported that Elliot Associates increased its stake in US$3.1 Billion Romanian investment fund Fondul Proprietatea, the largest closed-end fund in the world, to 20.01%. Elliot is the largest shareholder of the fund, and the position represents one of the largest positions in its portfolio. The fund currently trades at a 25% discount to the Net Asset Value. Franklin Templeton, who acts as the fund’s manager, announced last week that they are completing a secondary listing in London. The aim of the listing is to promote…