Absolute Return Awards 2008

PAULSON TAKES 3 TOP HONORS FOR SECOND CONSECUTIVE
YEAR  AT 2008 ABSOLUTE RETURN AWARDS
       
MILLENNIUM INTERNATIONAL HAILED AS
BEST LONG-TERM PERFORMER


GOSHEN WINS FUND OF THE YEAR

OTHER WINNERS INCLUDE PERSHING SQUARE, BLACKROCK AND BALESTRA

PLATNIUM PARTNERS NAMED AS BEST MULTISTRATEGY


New York, November 19, 2008 – Paulson & Co, headed by John Paulson, won three awards for the second year in a row, including Management Firm of the Year at last night's 2008 Absolute Return Awards Dinner. Paulson, who was nominated for four awards, is the first hedge fund firm to take three awards in consecutive years since the awards were launched.  Paulson also took home awards in the event driven and distressed securities categories.
 
Fifteen other awards were also presented at the fourth annual event which recognizes the best risk-adjusted performance by U.S. hedge funds.  Goshen Global Equity won two awards including the night's coveted Fund of the Year.
 
GMO Tactical Opportunities won the award for Equity Market Neutral & Quantitative Strategies, a newly created category and Millennium International won the prestigious award for the best long-term performance over a 10-year time period.
 
 
Other notable winners included William Ackman's Pershing Square in the U.S. equity category, Balestra Capital in the global macro category, BlackRock Health Sciences in the equity sector funds category and Roy G. Niederhoffer in the managed futures category. 
 
"In one of the toughest years on record, these managers have proved that they can protect capital and provide alpha," said Michelle Celarier, Editor-in-Chief of Absolute Return.  "Many funds have shown resiliency in adverse market conditions, which is a testament to the wide ranging activities and strategies hedge funds can employ as they seek high risk-adjusted returns for their investors."
 
Absolute Return employs a quantitative methodology for selecting nominees and winners.  In order for funds to be considered, they must not only produce strong returns – at least beating the median in the relevant peer group – but also must demonstrate that they can manage market volatility by generating a strong Sharpe ratio.  The Fund of the Year nominees are considered from among the funds that won awards in the various other categories and funds with outstanding performance but which had missed out in their category by falling just short of the 25% Sharpe range.
 
About Absolute Return and HedgeFund Intelligence
 
Absolute Return is the leading source of U.S. hedge fund news and information, featuring proprietary data and analysis on more than 2,500 U.S. single-manager hedge funds. Absolute Return, a monthly magazine, and the Absolute Return Directory and Database are divisions of HedgeFund Intelligence, a global provider of hedge fund news and data. For more information, please visit www.hedgefundintelligence.com/ar/.
  



Tue 18 Nov 2008

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