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Komfie Manalo, Opalesque Asia:

Billionaire hedge fund manager John Paulson posted strong gains last month as the his Paulson Advantage fund jumped 3.5% in May (+8% YTD) and the Paulson Partners merger strategy gained 2.7% (+9.3% YTD), Bloomberg reported. The leveraged version of the event-driven fund returned 4.3% (12% YTD), the merger fund’s leveraged alternative surged 5.4% (19% YTD), the credit fund fell 1.4% (4% YTD), and the Special Situations fund, formerly known as Recovery, climbed 3.1% (even for this year).

The New York-based hedge fund manager, who oversees $20bn in assets, is having a great year in 2015 after suffering losses in 2014. His bets on energy, health-care mergers and Greek banks have been paying off as his funds outperformed stocks and bonds and outpacing the average hedge fund. The Bloomberg Global Aggregate Hedge Fund Index gained 0.1%in May (+3.4% YTD).

He made headlines last week after he donated $400m to Harvard University. The gift will support the School of Engineering and Applied Sciences, which has led technology breakthroughs and is planning to expand, the university said. Paulson said it promises to become "the next major center of innovation."

In April, Paulson’s hedge funds ......................

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