Paulson Co Inc

Featured In The Book

Key Facts

Founded1994
Websitehttp://www.paulsonco.com
HeadquartersNew York
Employees120
AUM$12.4 billion
AUM as ofApril 21, 2017
StrategiesCredit, Distressed, Relative Value
Clients17

Overview

Paulson Co Inc is a hedge fund based in New York. It was founded in 1994 by John Paulson. They hold $12.4 billion in assets under management as of April 21, 2017. Read their Plain English Brochure. Started to focus on merger arbitrage
12 Fundshttp://www.bloomberg.com/apps/news?pid=newsarchive&sid=arAno4KAi9Es

Announced in his 2008 year end investor letter that he thinks the driver in 2009 and 2010 will be in long distressed opportunities.http://dealbook.blogs.nytimes.com/2009/01/30/paulson-defies-financial-crisis-and-posts-huge-gains/

$28.8 billion under management as of 1/1/2009http://dealbook.blogs.nytimes.com/2009/01/30/paulson-defies-financial-crisis-and-posts-huge-gains/
$35 billion under management as of 10/24/2008http://online.wsj.com/article/SB122480700238864977.html?mod=todays_us_money_and_investing
$28 billion under management as of 1/8/2008http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aF2.5PL13F4o

Eighth largest hedge fund in Institutional Investor's 2008 Hedge Fund 100, up from 69th in 2007http://www.iimagazine.com/Rankings/rankingsHeFu100RGlobal08.aspx?LS=EMS204396

Opening up a Real Estate Recovery Fund in 2009 to invest in distressed real estate (yes, from the long side this time). This will be run by Mike Barr (former MD at Lehman)

Sub Funds and Performance

NameAUM (bn) Type Min Investment Num Clients Internal $ % Fund of Funds $ % Prime Brokers
Entrust Pc Segregated Portfolio Company 1 0.256 hedge fund 5,000,000 1 JP Morgan
Paulson Advantage Master Ltd 0.796 hedge fund 5,000,000 23 87.0 JP Morgan
Paulson Advantage Plus Master Ltd 1.880 hedge fund 5,000,000 43 98.0 1.0 JP Morgan
Paulson Credit Opportunities Master Ltd 3.660 hedge fund 5,000,000 61 95.0 JP Morgan
Paulson European Event Equities Master Fund Ltd 0.025 hedge fund 500,000 1 100.0 Goldman
Paulson International Ltd 1.882 hedge fund 5,000,000 33 66.0 3.0 JP Morgan
Paulson Long/Short Master Fund Ltd 0.718 hedge fund 500,000 20 96.0 Goldman, Morgan Stanley
Paulson Partners Enhanced LP 1.023 hedge fund 5,000,000 39 67.0 5.0 JP Morgan
Paulson Partners LP 0.560 hedge fund 5,000,000 19 1.0 JP Morgan
Paulson Partners Premium LP 0.015 hedge fund 500,000 1 JP Morgan
Paulson Pure Spread Fund LP 0.019 hedge fund 5,000,000 6 66.0 JP Morgan
Paulson Pure Spread Master Fund Ltd 0.093 hedge fund 5,000,000 6 39.0 JP Morgan
Paulson Special Situations Master Fund Ltd 1.050 hedge fund 5,000,000 34 94.0 JP Morgan
Paulson Strategic Partners Fund (Offshore), L.P. 0.042 private equity fund 10,000,000 3 JP Morgan
Paulson Strategic Partners Fund, L.P. 0.304 private equity fund 10,000,000 6 87.0 JP Morgan
Pfr Gold Master Fund Ltd 0.405 hedge fund 5,000,000 36 91.0 Goldman
Pp Opportunities Fund Ltd 0.012 hedge fund 10,000,000 1 JP Morgan

Historical Performance

2009 Results
Advantage up .48% in September, up 13.2% YTDhttp://dealbook.blogs.nytimes.com/2009/10/09/many-big-hedge-funds-post-september-gains/

2008 Resultshttp://dealbook.blogs.nytimes.com/2009/01/30/paulson-defies-financial-crisis-and-posts-huge-gains/
* Advantage Plus Ltd +37.6%
* Advantage Ltd +24.0%
* Credit +18.5%
* Credit II +16.3%
* Enhanced +12.5%
* International +7.9%
* Partners +6.28%
* Partners Enhanced +12.65%
* Recovery Fund -.03%

2008 Results (through October)http://online.wsj.com/article/SB122480700238864977.html?mod=todays_us_money_and_investing
* Each of the three main funds are up between 15 and 25%

2008 Results (through February)http://www.reuters.com/article/mergersNews/idUSN1044882620080310
* Merger Arbitrage +4.3 to +9%
* Event Arbitrage +5.5 to +10%
* Credit Opportunities over +8%



Paulson's big bet against subprime led to the impressive 2007 results:http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aF2.5PL13F4o
* Paulson Merger Arbitrage +52%
* Paulson Event Arbitrage +100%
* Paulson Credit Opportunities +589%
* Paulson Credit Opportunities II +351.8%

Other 2007 Results:http://www.iimagazine.com/Rankings/rankingsHeFu100RGlobal08.aspx?LS=EMS204396
* Advantage Plus +158.56% on 5,589mm of capital
* Advantage +100.14% on 3,552mm of capital
* Enhanced +116.47% on 3,352mm of capital
* Paulson International +51.7% on 2,727mm of capital

2007 period results
* Paulson International Ltd up 12.89% in February 2007http://www.hedgefundintelligence.com/ar/Article.aspx?PositionID=22836

Key People

NameTitlePositionOwnership
Christopher BodakChief Financial Officer Owner or OfficerNone
Linda DongChief Operating Officer Owner or OfficerNone
Andrew HoineDirector Of Research Owner or OfficerNone
Stuart MerzerGeneral Counsel & Chief Compliance Officer Owner or OfficerNone
John PaulsonPresident, Director, Portfolio Manager Owner or Officer> 75%

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