LONDON Jan 6 Profits at Paulson Europe,
the UK-based arm of John Paulson's hedge fund firm, fell 17
percent in the year to end-March, reflecting losses in the
billionaire investor's funds, although its four partners still
shared a 26.5 million pounds bonus pool.
Profit available for discretionary division among the
partnership's four members dropped to 26.5 million ($41 million)
pounds over that period from 32.1 million pounds the previous
year, the firm said in a regulatory filing this week.
The results, which do not cover all of 2011, come after a
dismal period for Paulson, one of the $2 trillion dollar hedge
fund industry's biggest stars. He has suffered recently from big
bets on Bank of America, Hewlett Packard,
Hartford Financial Services and Sino-Forest.
His Advantage Plus fund, which had lost just 1.7 percent in
the first three months of last year, went on to lose 52 percent
for the year to December 16, while the Advantage fund was down
The highest-paid member at Paulson Europe -- likely to be
Paulson Ltd, controlled by Paulson himself -- was allocated
almost 15 million pounds.
The remaining 11.6 million pounds is likely to have been
split between partnership members Nikolai Petchenikov, Harry St.
John Cooper and Mina Gerowin Herrmann.
A spokesman for Paulson declined to comment on the results.