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:

Absolute Return Awards Dinner. Sixteen other awards were also presented at the thirdAbsolute Return. “Many funds

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

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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

Absolute Return, a

www.hedgefundintelligence.com/ar/

.

For further information please contact:

Sarah Wood, Editor-in-Chief, Absolute Return, Tel: 646-226-7192.