UPDATE 1-Investor John Paulson would consider moving to Puerto Rico

jueves 11 de febrero de 2016 17:59 GYT
 

(Adds quotes on possible move to Puerto Rico, creditors, gold)

SAN JUAN Feb 11 (Reuters) - Billionaire investor John Paulson, who has invested in hotels and other properties in Puerto Rico, said on Thursday he would consider moving to the U.S. territory as he finds the lifestyle very attractive.

Paulson, speaking at an investor conference in San Juan, has bet that Puerto Rico, battling a fiscal crisis, will be able to attract fresh visitors to its beaches and hotels. He said he has some projects on the island that will be developed including a new condominium in Condado, a beachfront district near old San Juan.

"We built a house here, a vacation home," Paulson said with regards to a possible move to Puerto Rico. "We have an apartment here. So we are spending a lot more time here."

Puerto Rico, with $70 billion of debt, is trying to restructure its borrowings and persuade creditors to take haircuts. It has already defaulted on some of its debt.

Paulson said he does not own any Puerto Rican debt, personally or in his funds.

"We are not involved in the fiscal situation but I think it is important to resolve the fiscal issue," Paulson said. "I think the parties on both sides are working hard, so I think it will be resolved favorably."

Paulson added that he still has a gold fund and significant investments in the gold sector, and said that the fund was "doing very well."

(Reporting by Nick Brown, writing by Megan Davies; Editing by Chris Reese and Lisa Shumaker)