Most Expensive Home in U.S. Bought By Hedge Fund Manager

A top hedge fund manager has purchased the most expensive house in America, the New York Post reports.

Barry Rosenstein, fund manager at Jana Partners, is set to pay $147 million for an 18-acre beachfront home in the Hamptons on New York's Long Island, the paper reported.

The East Hampton home formerly belonged to Christopher H. Browne, managing director of Tweedy, Browne Company investment firm, whose will was contested after his death, the Post reported.

The previous record for a home sale was set just two weeks ago, when a house in Greenwich, Conn., sold for $120 million.