Top 40 Largest Hedge Funds in New York 2017

Top 40 Largest Hedge Funds in New York, 2017

Below is a list of the largest NYC hedge funds ranked by assets under management for 2017:

	Fund Name	City	AUM ($ million)	Strategy
1	Millennium Management	New York	207626	Multi Strategy
2	Goldman Sachs Asset Management	New York	106240
3	DE Shaw	New York	81317	Absolute Return
4	Fortress Investment Group	New York	56936	Private Equity
5	Elliott Management	New York	56006	Global Equity
6	Element Capital Management	New York	55883	Global Macro
7	Moore Capital Management	New York	53824	Global Macro
8	Och-Ziff Capital Management	New York	51744	Global Macro
9	Two Sigma Investments	New York	49269	Commodities
10	Cerberus Capital Management	New York	47973	Aerospace/Defense
11	Angelo Gordon & Co.	New York	38253	Real Estate
12	BlackRock Alternative Advisors	New York	33250	Global Macro
13	Davidson Kempner	New York	31023	Global Equity
14	GoldenTree Asset Management	New York	27384	Private Equity
15	Anchorage Capital Group	New York	27176	Credit
16	Centerbridge Partners LP	New York	26049	Multi Strategy
17	PointState Capital	New York	24763	Energy
18	Tiger Global Management LLC	New York	23596
19	Hutchin Hill Capital	New York	22809	Event Driven
20	Bluemountain Capital Management	New York	22788	Global Macro
21	King Street Capital Management	New York	21219	Global Macro
22	Select Equity	New York	20511	Equity
23	York Capital Management	New York	19975	Event Driven
24	Brigade Capital Management	New York	19731	Managed Futures
25	Third Point LLC	New York	19412	Event Driven
26	MKP Capital Management	New York	18705	Multi Strategy
27	Glenview Capital Management	New York	16320	Multi Strategy
28	Tilden Park Capital Management	New York	16058	Multi Strategy
29	Neuberger Berman	New York	15900	Fund of Funds
30	Marathon Asset Management	New York	15248	Credit

Data as of June 1, 2017

View the full list of the top 40 New York hedge funds 2017


The three largest NYC hedge funds are Millennium Management, Goldman Sachs Asset Management, DE Shaw, and Fortress Investment Group.

The top 30 biggest hedge funds in New York for 2017 have $1.22 trillion in assets under management.

The eight top hedge funds in New York with more than $50 billion in assets under management.


 

Fortress to Acquire Rival Hedge Funds?

Fortress Investment Group, the $27 billion dollar hedge fund originally founded as a Private Equity firm by Wesley R. Edens in 1998, announced plans to acquire or purchase a range of financial firms, including other hedge funds.

Recently appointed CEO of Fortress Group, Daniel Mudd, has publicly stated Fortress' intent to acquire insurers, banks, traditional money managers and rival hedge funds.

Many alternative investment industry analysts have predicted declining numbers of hedge funds as well as decreased hedge fund assets under management due to the poor markets and returns, as well as a growing mistrust of fund managers. But if other large hedge funds begin to poach on smaller rivals, consolidation may be also be a significant driver of decreasing numbers of hedge funds.

Fortress Investment Group Founder, Wesley Edens, was one of a couple hedge fund managers named to Forbes Magazines' "Biggest Billionaire Losers of 2008"

Fortress to Take Over $2.5b in DB Zwirn & Co. Hedge Fund Assets

Fortress Investment Group will take over the $2.5 billion hedge fund assets of D.B. Zwirn Co., according to people supposedly familiar with the situation. Headquartered in New York, Fortress manages almost $30 billion in assets and is one of the largest US based hedge funds.

Zwirn’s board and some of its biggest investors chose Fortress, a New York-based private equity and hedge-fund manager, to liquidate the assets. Fortress was picked from nine candidates including a group headed by Desmond Dermot.

D.B. Zwirn Special Opportunities Fund fund makes loans to companies including those that have trouble getting financing elsewhere. Zwirn decided to close the fund when investors asked to withdraw more than $2 billion after a delay in the release of the fund’s 2006 financial audit.

Fortress Redemptions Reach $4.5 billion for First Three Quarters

Fortress redemption requests totaled $4.5 billion for the first three quarters of this year. Fortress' assets under management ended the period at $34.4 billion. Redemptions for Fortress come amidst poor performance in several of their hedge funds including the Drawbridge Global Macro Fund which is down more than 13% on the year.

For more on hedge fund redemptions:

Fortress Investment Group Firm Profile

Fortress Investment Group Profile

Fortress Investment Group is a New York based private equity and hedge fund founded in 1998 by Wesley Edensas an asset-based investment management firm. As of September 2006, Fortress managed $29.6 billion in hedge fund and private equity investments. Fortress also manages two publicly traded investment companies; Newcastle Investment Corporation and Eurocastle Investment Limited.

Fortress was co-founded by Wesley Edens, Robert Kauffman, of UBS and Randal A. Nardone, also of UBS. Fortress quickly expanded from private equity into hedge funds and real estate. In 2007 Fortress Investment Group went public, amid much scrutiny, under the stock symbol FIG, following the lead of The Blackstone Group. The stock traded above $30 in April of 2007, shortly after their IPO. As of November 11, 2008 FIG shares were trading at $3.20 indicating a market capitalization for Fortress Group of only $1.3 billion.

Some of Fortress Group’s hedge funds include:
The Drawbridge Global Macro Funds which apply macroeconomic fundamental, market momentum and technical analyses to identify profitable strategies.
The Drawbridge Special Opportunities Funds are designed to purchase investments in the United States, Western Europe and the Pacific focusing on asset-backed products.
The Fortress Partners Funds are designed to replicate university endowments.

Key Fortress People:
Wesley R. Edens: Chief Executive Officer and Chairman of the Board of Directors
Peter L. Briger, Jr.: President and Director
Robert I. Kauffman: President – Europe and Director
Randal A. Nardone: Chief Operating Officer and Director
Michael E. Novogratz: President and
Fredric B. Garonzik: Director
Daniel N. Bass: Chief Financial Officer
Michele I. Cohen: Managing Director, Human Resources

Fortress Investment Group AUM (2008): $35 billion

Fortress Investment Group Employees: 700

Fortress Invest Group Address:
Fortress Investment Group
Fortress Capital Finance III (A) LLC
1345 Avenue of the Americas, 46th Floor
New York, NY 10105 USA

Fortress Phone:
212 798 6100