Top 100 Largest Hedge Funds

Below is a list of the 100 largest hedge funds in the world including location and AUM (assets under management) as of 2009.

NOTE: Please see the updated TOP 75 Hedge Funds 2016  or view the Top 250 Global Hedge Funds 2017

1. Bridgewater Associates
Location: Westport, CT
AUM: $38.00 billion

2. JPMorgan Asset Management
Location: New York, NY
AUM: $32.89 billion

3. Paulson & Co.
Location: New York, NY
AUM: $29.00 billion

4. D.E. Shaw & Company
Location: New York, NY
AUM: $28.60 billion

5. Brevan Howard Asset Management
Location: London, UK
AUM: $26.84 billion

6. MAN Investments
Location: London, UK
AUM: $24.40 billion

7. Och-Ziff Capital Management
Location: New York, NY
AUM: $22.10 billion

8. Soros Fund Management
Location: New York, NY
AUM: $21.00 billion

9. Goldman Sachs Asset Management
Location: New York, NY
AUM: $20.59 billion

10. Renaissance Technologies Corporation
Location: East Setauket, NY
AUM: $20.00 billion

11. Farallon Capital Management
Location: San Francisco, CA
AUM: $20.00 billion

12. Barclays Global Investors
Location: London, UK
AUM: $17.00 billion

13. Baupost Group
Location: Boston, MA
AUM: $16.80 billion

14. BlueBay Asset Management
Location: London, UK
AUM: $16.70 billion

15. Moore Capital Management
Location: New York, NY
AUM: $16.50 billion

16. Avenue Capital Group
Location: New York, NY
AUM: $16.20 billion

17. King Street Capital Management
Location: New York, NY
AUM: $15.90 billion

18. Angelo, Gordon & Company
Location: New York, NY
AUM: $14.00 billion

19. Fortress Investment Group
Location: New York, NY
AUM: $13.66 billion

20. BlueCrest Capital Management
Location: London, UK
AUM: $13.27 billion

21. Lone Pine Capital
Location: Greenwich, CT
AUM: $13.00 billion

22. Elliott Management Corporation
Location: New York, NY
AUM: $12.80 billion

23. Winton Capital Management
Location: London, UK
AUM: $12.40 billion

24. Eton Park Capital
Location: New York, NY
AUM: $12.00 billion

25. SAC Capital Advisors
Location: Stamford, CT
AUM: $12.00 billion

26. Landsowne Partners
Location: London, UK
AUM: $12.00 billion

27. Cerberus Capital Management
Location: New York, NY
AUM: $11.90 billion

28. FX Concepts
Location: New York, NY
AUM: $11.74 billion

29. Millenium Management
Location: New York, NY
AUM: $11.70 billion

30. GLG Partners
Location: London, UK
AUM: $11.50 billion

31. Tudor Investment Corporation
Location: Greenwich, CT
AUM: $11.37 billion

32. Citadel Investment Group
Location: Chicago, IL
AUM: $10.72 billion

33. Axon Capital Management
Location: New York, NY
AUM: $10.60 billion

34. ESL Investments
Location: Greenwich, CT
AUM: $10.50 billion

35. Duquesne Capital Management
Location: Pittsburgh, PA
AUM: $10.00 billion

36. Wellington Capital Management
Location: Boston, MA
AUM: $10.00 billion

37. GoldenTree Asset Management
Location: New York, NY
AUM: $10.00 billion

38. Davidson Kempner Capital Management
Location: New York, NY
AUM: $9.70 billion

39. Maverick Capital
Location: New York, NY
AUM: $9.70 billion

40. Viking Global Investors
Location: Greenwich, CT
AUM: $9.66 billion

41. The Children's Investment Fund
Location: London, UK
AUM: $9.40 billion

42. Canyon Capital Advisors
Location: Los Angeles, CA
AUM: $9.38 billion

43. Sloane Robinson
Location: London, UK
AUM: $9.10 billion

44. GMO
Location: Boston, MA
AUM: $9.00 billion

45. Bain Capital
Location: Boston, MA
AUM: $8.80 billion

46. Stark Investments
Location: St. Francis, WI
AUM: $8.67 billion

47. Convexity Capital Management
Location: Boston, MA
AUM: $8.50 billion

48. QVT Financial
Location: New York, NY
AUM: $8.50 billion

49. Perry Capital
Location: New York, NY
AUM: $8.33 billion

50. Adage Capital Management
Location: Boston, MA
AUM: $8.00 billion

51. Caxton Associates
Location: New York, NY
AUM: $8.00 billion

52. Atticus Capital
Location: New York, NY
AUM: $8.00 billion

53. York Capital Management
Location: New York, NY
AUM: $7.80 billion

54. Highfields Capital Management
Location: Boston, MA
AUM: $7.80 billion

55. Black River Asset Management
Location: Minnetonka, MN
AUM: $7.44 billion

56. Harbinger Capital Partners
Location: New York, NY
AUM: $7.10 billion

57. Taconic Capital Advisors
Location: New York, NY
AUM: $7.10 billion

58. Magnetar Capital
Location: New York, NY
AUM: $7.10 billion

59. HBK Capital Management
Location: Dallas, TX
AUM: $7.10 billion

60. Marathon Asset Management
Location: New York, NY
AUM: $7.00 billion

61. Blue Ridge Capital
Location: New York, NY
AUM: $7.00 billion

62. HSBC
Location: London, UK
AUM: $6.90 billion

63. Mariner Investment Group
Location: Harrison, NY
AUM: $6.80 billion

64. Symphony Asset Management
Location: San Francisco, CA
AUM: $6.70 billion

65. Marshall Wallace
Location: London, UK
AUM: $6.60 billion

66. Horseman Capital Management
Location: London, UK
AUM: $6.52

67. CQS
Location: London, UK
AUM: $6.50 billion

68. Silver Point Capital
Location: Greenwich, CT
AUM: $6.5 billion

69. Shumway Capital Partners
Location: Greenwich, CT
AUM: $6.50 billion

70. AQR Capital Management
Location: Greenwich, CT
AUM: $6.40 billion

71. Gartmore Investment Management
Location: London, UK
AUM: $6.16 billion

72. Anchorage Advisors
Location: New York, NY
AUM: $6.00 billion

73. Kynikos
Location: New York, NY
AUM: $6.00 billion

74. BlackRock
Location: New York, NY
AUM: $5.61 billion

75. Tiger Asia Management
Location: New York, NY
AUM: $5.60

76. Morgan Stanley Investment Management
Location: New York, NY
AUM: $5.50 billion

77. Dexia Asset Management
Location: Paris, France
AUM: $5.47 billion

78. Sparx Group
Location: Tokyo, Japan
AUM: $5.43 billion

79. Alternative and Quantitative Investments
Location: Chicago, IL
AUM: $5.43 billion

80. Spinnaker Capital
Location: London, UK
AUM: $5.40 billion

81. Cheyne Capital Management
Location: London, UK
AUM: $5.23 billion

82. AllianceBernstein
Location: New York, NY
AUM: $5.1 billion

83. Greenlight Capital
Location: New York, NY
AUM: $5.1 billion

84. Appaloosa Management
Location: Chatham, NJ
AUM: $5.1 billion

85. Galleon Group
Location: New York, NY
AUM: $5.00 billion

86. Cantillon Capital Management
Location: New York, NY
AUM: $5.00 billion

87. Centaurus Energy
Location: Houston, TX
AUM: $5.0o billion

88. Thames River Capital
Location: London, UK
AUM: $4.9 billion

89. Campbell & Co.
Location: Towson, MD
AUM: $4.9 billion

90. Graham Capital Management
Location: Rowayton, CT
AUM: $4.72 billion

91. Pershing Square Capital Management
Location: New York, NY
AUM: $4.70 billion

92. Icahn Capital
Location: New York, NY
AUM: $4.63 billion

93. BlueMountain Capital Management
Location: New York, NY
AUM: $4.60 billion

94. Glenview Capital Management
Location: New York, NY
AUM: $4.46 billion

95. Varde Partners
Location: Minneapolis, MN
AUM: $4.40 billion

96. Brummer and Partners
Location: Stockholm, Sweden
AUM: $4.39 billion

97. Tewksbury Capital Management
Location: Hamilton, Bermuda
AUM: $4.30 billion

98. Aspect Capital
Location: London, UK
AUM: $4.30 billion

99. Credit Suisse Hedging
Location: Sao Paulo, Brazil
AUM: $4.24 billion

100. Carlson Capital
Location: Dallas, TX
AUM: $4.23 billion

Source: Institutional Investor

Full Contact Info for 3500+ Hedge Funds including the Top 100 listed above

Brazilian Hedge Funds See Huge Inflows

Brazilian hedge funds had more than $4.5 billion in inflows during the month of July. This is the largest monthly inflow to Brazilian hedge funds ever. The increased investor appetite comes amid low global interests and increased demand for riskier, higher yielding assets.

Brazilian hedge funds manage about $150 billlion in total assets. The July inflows represent an increase of about 3%.

The Brazilian stock market, Bovespa, had its best month in July in more than 10 years.

Hedge Fund Database Reviews

Review of the Best Hedge Fund Directories -2009

Have you been looking for a quality hedge fund directory or hedge fund database, but not sure what you get for the money? If you are like many of our readers, apparently the answer is yes. There are at least a dozen providers of hedge fund information. Many supply an online database, while others allow users to download the information for use with Excel or other spreadsheet programs. Three of the four hedge fund databases below provide performance information designed for investors and are only available to qualified investors.

Also note that while each hedge fund database/directory claims to cover a different number of funds, for the most part they have similar coverage. Much of the difference in “number of hedge funds” stems from the number of repeat listings.

Best Hedge Fund Directories:

1. BarclayHedge (Overall Winner!)

Price: $4,500

• The BarclayHedge Hedge Fund Database Barclay’s contains comprehensive information on more than 4,000 Hedge Funds and Funds of Hedge Funds. Barclay’s database is probably the best known and most respected hedge fund directory available. Constantly updated, their database is the go to source for hedge fund and fund of fund quantitative information. Barclay’s also sells a purely Fund of Funds directory which is available for $1,200.

• Despite the sometimes prohibitive price, Barclay’s Hedge Fund Database remains the most valulable single tool for investors and serious researchers needing up-to-date performance information. For an additional $4,500, users can get access to the unbeatable Barclay’s Contact Marketing Database which provides contact information for hedge funds, fund of funds and CTA managers.

2. HedgeFundContacts (Best Value!)

Price: $137 + $240 for downloads

• At less than $400 including downloads (or $137 for fully searchable online database), HedgeFundContacts.com is the clear winner in the Best Value , Hedge Fund Database category. Their online database is easy to use and offers more search options than many more expensive competitors. In addition to several thousand hedge funds, they also provide updated contact info on fund of hedge funds, and private equity firms. They just added People Search, a very cool and unique feature, which gives users access to a database (including email addresses) of more than 8,000 hedge fund professionals including a surprising number of CEOs and Managing Directors.
  

• Amazingly, their contact Database rivals that of the much more expensive BarclayHedge and is a much more affordable option for job hunters, marketers, and other research. Because HedgeFundContacts is a contact database they not supply performance information. The upside is they provide better contact information and more valid email addresses than virtually any other competitor and their database is available to non-qualified investors.

3. HedgeCo

Price: $2,500 + $2,500 for downloads

• HedgeCo provides a searchable online database as well as the ability to download the results to Excel. Includes quantitative and qualitative data on single manager hedge funds, funds of hedge funds, CTAs, and a variety of other alternative investment products. The database is of good quality, though with a number of repeat listings. However, at $5000 with downloads, the HedgeCo database is priced at the upper end of the elite hedge fund directories and is only available to qualified investors.

4. Eurekahedge

Price: $3,500

• The Eurekahedge North American Hedge Fund Database provides online access to a database of 2,675 hedge funds throughout North America. Subscribers also get a hard copy version of the database and free monthly online newsletters. While a valuable tool, the database does not appear to be updated as often as others. Eurekahedge also makes available their Global Hedge Fund Database which is available for $12,000 and a Fund of Funds database for $3,000.

Of course, there are many other hedge fund directories available. However after reviewing dozens of competitors, we selected the four above because of the high quality of their listings, frequent updates, and ease of use. Job hunters, recruiters, and those wishing to market to hedge funds will get the best value from wildly under-priced HedgeFundContacts.com. For investors, pension fund managers, and research institutions, we suggest the overall winner of our Hedge Fund Database Review, the BarclayHedge database.

Long Island Hedge Fund Subpoenaed by SEC

NIR Group, the Long Island hedge fund firm run by Corey Ribotsky, 38, is the focus of an SEC investigation focusing on the performance valuations of its hedge funds. Also under investigation are communications NIR made to investors.

The SEC has said that Mr. Ribotsky also lied about the returns and the holding of an assortment of funds. People familiar with the matter said Corey Ribotsky and NIR Group have defrauded their investors, after poor performance over recent months.

The SEC also requested that NIR provide yearly, monthly and quarterly fund performance returns from January 2004 till the present and all documents related to NIR's internal performance calculation process.

NIR Group was founded by Mr. Ribotsky in 1998 and focuses on small/micro cap companies.

You can go to Corey Ribotsky's personal website here.

Or visit NIR Group

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"

Hedge Fund Founder Quits After JP Morgan Acquisition

Founder of Highbridge Capital Management, Henry Swieca, revealed plans to leave the firm after JP Morgan moved to purchase the remainder of the giant hedge fund. Highbridge Capital Management is one of the world's largest hedge funds with around $20 billion in AUM (assets under management). In 2008, Henry Swieca ranked in the top 100 on Forbes list of billionaires, with an estimated net worth of $1.3 billion.


Highbridge Capital Management, LLC is a global alternative investment and asset management firm based in New York with offices in London, Hong Kong and Tokyo, with over 310 employees and 100 investment professionals. Highbridge manages approximately $20 billion of capital for financial institutions, corporate pension funds, university endowments and family offices.

DE Shaw Group to Lighten Redemption Restrictions

D.E. Shaw & Co., the $29 billion investment firm founded by David Shaw, will permit investors to withdraw more money from its two biggest funds than previously permitted, according to Bloomberg.

DE Shaw recently limited quarterly redemptions in November to 8.3 percent of investor assets after a surge in withdrawal requests. The NYC-based firm is now offering clients the one-time option to pull 16 percent of their assets from two of its funds, its Oculus and Composite funds, next month. Those who accept won’t be able to make additional withdrawals this year.

Hedge Funds Post Best Performance in Nine Years

Hedge funds returned an average of 5.2% in May, 2009, the best cumulative return since 2000. edge-fund managers are outperforming global benchmarks after posting the worst year on record in 2008. Eurekahedge’s global index slid 12 percent last year, the most since the Singapore-based firm began tracking data in 2000. The MSCI Asia Pacific Index rose for a third month in May, advancing 12 percent in its longest stretch of monthly gains since July 2007.

Read the full article

I Thought This Fund Was Market Neutral?!?!

Hedge Funds Skeptical of Uncle Sam

According to Reuters, many hedge fund managers are leery of US intervention in the capital markets, from banking bailouts to Chrysler and the automakers.

According to Sean Mathis of New Centurion Capital Partners,"When you have government intervention at the scale we have, you do something the markets abhor: you create uncertainty. We have uncertainty where markets are going and what the rules of the road will be."

Even more drastic are statements like those of Gary Kaminsky, former Managing Director at Neuberger Berman "You have to assume the government will be involved. You have to assume the free market is not as free as it was in the past and won't be for the next 20 years," Kaminsky said.

Of course what is not being said is that hedge funds have benefited from the bailout in countless ways. Many of the prime brokers to hedge funds could have been at risk had large financial institutions not received bailout money. Most hedge funds with a long-bias have also benefited from the massive injection of money into the system and the support of the financial sector.

What if Hedge Funds had Billboards?

I had a dream last night. What if hedge funds had billboards?

Hedge Fund, Satellite Asset Management, to Close

New York based hedge fund Satellite Asset Management is closing its doors six months after suspending redemptions.

The firm, with $2.8 billion in AUM, has begun returning money to investors in its three funds, Bloomberg News reported. The three funds being liquidated are the Satellite Overseas Fund, Satellite Fund II and its largest fund, the Satellite Credit Opportunities fund. In late 2008, Satellite reported its $2billion Credit Opportunities Fund was down as much as 35% and was facinf large redemption requests.

The firm, founded by a trio of Soros Fund Management veterans a decade ago (Lief Rosenblatt, Gabe Nechamkin, and Mark Sonnino) managed as much as $7 billion as recently as the end of 2007. It lost some 35% last year, and was forced to halt withdrawals in November.

Manhattan Lawyer Pleads Guilty to Hedge Fund Fraud

Marc Dreier, 59, has plead guilty to using fake documents and impersonations to defraud hedge funds out of about $400 million. Despite the objections of prosecutors, Dreier was allowed to remain free on bail until his July 13 sentencing.

Dreier had founded Dreier LLC, a law firm employing as many as 250. He also lived a lavish lifestyle including a personal yacht and tens of millions in artwork.

Read the full article here

Obama Slams Hedge Fund Holdouts on Chrysler Deal

Obama was clearly not happy with certain unnamed hedge funds refusal to make sacrafices prior to Chrysler's "orderly" bankruptcy. Though the President did not name which funds were not cooperative, he noted that the vast majority of financial institutions did come to the table to work constructively. Apparently several hedge funds did not.
Below is a direct quote from President Obama's speech this morning:

"While many stakeholders made sacrifices and worked constructively, I have to tell you some did not. In particular, a group of investment firms and hedge funds decided to hold out for the prospect of an unjustified taxpayer-funded bailout. They were hoping that everybody else would make sacrifices, and they would have to make none. Some demanded twice the return that other lenders were getting. I don't stand with them. I stand with Chrysler's employees and their families and communities. I stand with Chrysler's management, its dealers, and its suppliers. I stand with the millions of Americans who own and want to buy Chrysler cars. I don't stand with those who held out when everybody else is making sacrifices."

Obama also praised Robert Nardelli, the now former CEO of Chrysler,

"...Chrysler's management, and in particular, its CEO, Robert Nardelli, have played a positive and constructive role throughout this process."

You can also read the entire speech here:

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.