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Top 20 largest hedge funds

The ranking were done according to data compiled by Bloomberg as of April 7. The largest 20 hedge funds’ assets account for more than a quarter of an overall industry that is selectively recovering.

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As expected, the vast majority of these asset managers are based in the United States. Europe tops the list with the $69 billion Man Group. Note that this Man’s ranking relies more on an external growth through last october acquisition of GLG Parners rather than a strong organic growth.

Despite an overall decline in assets, there are still some quantitative asset managers in well positionned. Renaissance Technologies (19th with $17.1 billion), Winton Capital Management (15th with $ 20 billion), or Highbridge Capital Management (9th with $25 billion) are all in the top 20.

The total size of the hedge fund industry exceeded $2 trillion, helped by pension funds investments. According to Bloomberg, The largest 20 hedge funds’ assets rose 10 percent in six months, in a context of new investments primarily allocated to the "large" funds, as shown by a Hedge Fund Research’s study which estimates that 51 per cent of new investment have been allocated to funds with more than $ 5 billion in assets. HFR provided another significant qualitative data: about 70% of the increase in assets over the first quarter is linked to performances and 30% to new subscriptions.

What about the industry in France? It is not easy to provide figures. The perception of hedge funds is still very negative and long is the way, as reported in a study by Reinhold & Partners. Some players emerge as leaders: These include the $3.6 billion hedge fund Capital Fund Management exclusively focused on quantitative systematic strategies. With its recent acquisitions (AAAm and Hermitage), Nexar Capital manages roughly the same size of assets.

Bloomberg top 20 largest hedge funds

Rank Firm/Location Assets under management (in billion $)
1 Man Group / London 69.0
2 Bridgewater Associates / Westport, CT 62.0
3 JPMorgan Asset Management / New York 45.5
4 Paulson & Co. / New York 36.0
5 Brevan Howard Asset Management / London 32.3
6 Och-Ziff Capital Management / New York 28.7
7 Soros Fund Management / New York 27.0
8 BlackRock / New York 26.6
9 Highbridge Capital Management / New York 25.0
10 BlueCrest Capital Management / London 24.5
11 Baupost Group / Boston 24.0
11 Cerberus Capital Management / New York 24.0
13 Angelo Gordon & Co. / New York 23.5
14 Farallon Capital Management / San Francisco 21.5
15 Winton Capital Management / London 20.0
16 King Street Capital Management / New York 19.9
17 Goldman Sachs Asset Management / New York 19.8
18 Canyon Partners / Los Angeles 19.0
19 Renaissance Technologies / East Setauket, NY 17.1
19 Elliott Management / New York 17.1

Next Finance , May 2011

Article also available in : English EN | français FR

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