After criticizing Trump policies, billionaire hedge funder warms to the president-elect

Paul Singer speaking at Delivering Alpha 2015 in New York.
David A. Grogan | CNBC

Hedge funder manager Paul Singer, once one of Donald Trump's harshest critics, is making up with the president-elect.

Singer attended a fundraising breakfast that Trump held Wednesday at Cipriani in New York, CNBC has learned.

The two are mending fences so thoroughly that sources say Singer is giving a substantial amount of money to Trump's inauguration next month.

The Elliott Management founder was a noted critic of Trump and told a conference last summer in Aspen that Trump's policies, if he stuck to them, were — "close to a guarantee of a global depression, widespread global depression."

Sources told CNBC that Singer and Trump have been in touch since the election and that Singer is encouraged by the team Trump is putting together. He is also enticed by the opportunity to get things done on the economic front with Trump in the White House and Republicans controlling Congress, sources said.