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William Lyon Homes Gets $30M Paulson Investment

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Newport Beach-based William Lyon Homes said on Monday that it has gotten a $30 million investment from New York-based hedge fund giant Paulson & Co. Inc.

The homebuilder sold a combination of common stock and convertible preferred stock to affiliates of Paulson & Co. Inc., a hedge fund which reportedly had close to $20 billion in assets under management as of this summer.

The subscription agreement calls for William Lyon Homes to increase its board of directors from seven to eight, with Paulson & Co. having a say in the new member, among other changes.

The builder did not disclose what it plans to do with the new funding. The company emerged from a short stint in bankruptcy earlier this year.

William Lyon Homes and its predecessors have sold some 100,000 homes since 1956, becoming one of the better-known builders on the West Coast over that time.

Paulson & Co.’s president, John Paulson, made a fortune during the last downturn by betting against the sub-prime mortgage market.

Last week his hedge fund was reported to have made an investment in another real estate-related company, Realogy Holdings Corp., the owner of the Coldwell Banker and Century 21 real-estate brokerage brands.

Mark Mueller
Mark Mueller
Mark is the Editor-in-Chief of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.

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