Absolute Return Awards 2007 |
Date: Wednesday, December 5, 2007
Author: Absolute Return
Media Contact: Brendan McManus Walek & Associates 212.590.0524 bmcmanus@walek.com PAULSON TAKES 3 TOP HONORS INCLUDING MANAGEMENT FIRM OF THE YEAR AT ABSOLUTE RETURN AWARDS 2007 CITADEL HAILED AS BEST LONG-TERM PERFORMER PASSPORT WINS FUND OF THE YEAR OTHER WINNERS INCLUDE BIG NAMES LIKE MOORE CAPITAL, EVEREST AND ZWEIG-DiMENNA ETON PARK NAMED AS BEST MULTISTRAT IN 07 New York, December 5, 2007 – Citadel Investment Group, headed by Ken Griffin, won the prestigious new award for best long-term performance over a ten-year time period at last night’s 2007 annual event which recognizes the best risk-adjusted performance by U.S. hedge funds. Passport Capital, headed by John Burbank, picked up the coveted Fund of the Year award. The event was a particular triumph for Paulson & Co, headed by John Paulson, which was nominated in no less than five categories and won three awards, including the big award for Management Firm of the Year. Paulson is the first hedge fund firm to take three awards in one year since the awards were launched three years ago. Other notable winners included Moore Capital for its Emerging Markets fund, Everest Capital in the global macro category and Zweig-DiMenna International in U.S. equity. Eton Park Offshore took the hotly-contested award for best multistrategy fund in 2007. “It has been a very turbulent market this year, but also a market which has provided tremendous opportunity to hedge funds,” said Sarah Wood, Editor-in-Chief of have come through with tremendous risk-adjusted returns, demonstrating the amazing strength and depth of talent that hedge funds now have to offer in the United States. Congratulations not only to the winners, but to all the nominees.” This year’s full list of winners is as follows: LONG-TERM PERFORMANCE Kensington Global Strategies FUND OF THE YEAR Passport Global Strategy MANAGEMENT FIRM OF THE YEAR Paulson & Co. NEW FUND OF THE YEAR Paulson Credit Opportunities II MULTISTRATEGY Eton Park Offshore U.S. EQUITY Zweig-DiMenna International GLOBAL EQUITY Highside Combined EQUITY SECTOR FUNDS Coatue Offshore SMALL-CAP EQUITY Whitebox Intermarket EMERGING MARKET EQUITY HG Green EVENT DRIVEN Owl Creek Overseas ARBITRAGE & CONVERTIBLES Paulson Enhanced FIXED INCOME & MORTGAGE BACKED Sorin Fund HIGH YIELD & EMERGING MARKET DEBT Moore Emerging Markets DISTRESSED SECURITIES Harbinger Capital Partners Offshore GLOBAL MACRO Everest Capital Global MANAGED FUTURES Quantitative Global 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. Press Release: Global Hedge Fund Assets Surge past $2 trillion Date: 29 March 2007 Page 3 of 3 About Absolute Return Absolute Return is the leading source of U.S. hedge fund news and information featuring proprietary data and analysis on over 1600 U.S. single-manager hedge funds. 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/ For further information please contact: Sarah Wood, Editor-in-Chief, Absolute Return, Tel: 646-226-7192.