Hedge Fund Founder John A. Paulson Gives $20 Million to NYU Stern.

- Major Gift to Fund School's Faculty Research, Scholarships, and Campus Renovation -

NEW YORK -- NYU Stern announced today that alumnus John Paulson (BS '78), founder and chairman of hedge fund Paulson & Co., Inc., has given a gift of $20 million to NYU Stern. John Paulson's gift will endow two faculty chairs - the Alan Greenspan Chair in Economics and the John A. Paulson Professor of Finance and Alternative Investments - as well as provide significant support for the School's Concourse Project, a major facilities renovation currently underway, and scholarship aid for undergraduate students.

"We are extremely grateful for John's support," said Thomas F. Cooley, dean of NYU Stern. "His generous gift will not only further strengthen Stern's research capability, particularly in the areas of finance and economics, and provide scholarships for undergraduate business students, but it will also help us provide our students with a modernized learning environment that matches the high quality educational experience we deliver."

Mr. Paulson is a leading financier and founder of New York-based Paulson & Co., one of the largest alternative asset managers in the world.

A member of Stern's Board of Overseers, Paulson said, "NYU Stern, like other universities, faces financial pressures in the current environment and relies on the support of its alumni. I am grateful for the education I received at Stern. My hope is that this gift will advance the School's mission as a global leader in business education and economic research as well as provide scholarships to gifted students with financial needs."

The Stern School will apply $5 million of John Paulson's gift to support two endowed faculty chairs. The first chair is named for alumnus Alan Greenspan (BS '48, MA '50, PhD '77), leading economist and former Chairman of the Federal Reserve Board. Dr. Greenspan was Chairman from 1987-2006, and was the first person to be appointed to five consecutive terms through a period covering four presidential administrations. He has also held a number of board positions. Dr. Greenspan is the author of The New York Times best-selling book, "The Age of Turbulence: Adventures in a New World" (Penguin Group, 2007) and works as a private advisor providing consulting through his company, Greenspan Associates LLC.

The second chair, named the John A. Paulson Professor of Finance and Alternative Investments, is held by Professor of Finance Lasse H. Pedersen, who is the first John A. Paulson Professor. Professor Pedersen's research focuses on how liquidity risk affects security prices, trading, funding, and risk management, its relevance highlighted by the recent liquidity crisis in the global financial markets. He has won numerous awards for his research, which has influenced practitioners and regulators, as well as academics.

Scholarships for undergraduate business students will be funded by $4 million of the gift. These high-merit, high-need students will be known as Paulson Scholars.

The remaining $11 million of the gift will support the Concourse Project, the School's most significant campus renovation since the consolidation 20 years ago of the undergraduate and graduate programs in buildings on Washington Square. The project has modernized classrooms and study spaces, created a more open, light-infused learning environment, and connected the School's two primary buildings, the Henry Kaufman Management Center and Tisch Hall. In recognition of Mr. Paulson's generosity, the School has named the first floor lobby of Tisch Hall and the School's auditorium in his honor. These spaces are prominent locations for hosting business and policy conferences as well as serve as central community hubs for students and returning alumni.

New York University Stern School of Business, located in the heart of Greenwich Village, is one of the nation's premier management education schools and research centers. NYU Stern offers a broad portfolio of academic programs at the graduate and undergraduate levels, all of them informed and enriched by the dynamism, energy and deep resources of the world's business capital.