John Paulson to invest $250 million in his new gold fund

Well, nothing more to add to this Bloomberg report:

Nov. 18 (Bloomberg) -- Paulson & Co., the hedge-fund firm run by billionaire John Paulson, is starting a gold fund that will invest in mining companies and bullion-related derivatives, a person familiar with the plan said.

Paulson will invest as much as $250 million of his own money in the fund, scheduled to begin Jan. 1, according to the person, who declined to be identified because the information isn’t public. John Reade, the former metals strategist at UBS AG in London, will join Paulson & Co. in mid-January, the person said. He was originally going to join Credit Suisse, the bank said Oct. 29. A spokesman for Paulson declined to comment.