Caesars casino drop affecting Paulson

Caesars Entertainment Corp dipped almost 11 percent as lenders exited talks over restructuring its largest unit. The casino operator has declined -38.16 percent  this year, weighing down the investment portfolios of Leon Cooperman, John Paulson and George Soros.

Paulson Recovery Fund to be renamed Paulson Special Situations Fund

Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan. 1, 2015, after concluding that the five-year-old U.S. recovery has matured.

Amendments to the fund’s mandate will render it more similar to Paulson’s event-driven Advantage funds, which wager on the outcomes of takeovers, spinoffs and corporate bankruptcies. Existing investors have been offered the chance to redeem their shares in light of the changes.