JPMorgan Named Largest U.S. Hedge Fund

Mar 9 2010 | 3:48am ET

JPMorgan Chase has reclaimed its throne as the largest hedge fund manager in the U.S. as the biggest hedge funds in the country nearly doubled their assets in 2009.

JPMorgan Chase—which includes Highbridge Capital Management—now manages $50.4 billion, more than 50% more than at the beginning of last year, according to the biannual AR Billion Dollar Club survey. That was enough for the Wall Street giant to retake the top spot from Bridgewater Associates, which grew by 17.84% in the second half of last year to reach $43.6 billion.

Paulson & Co. held steady as the third-largest hedge fund manager in the U.S., boosting its assets by 10.35% last year to $32 billion. Soros Fund Management took fourth with $27 billion—28.57% more than a year earlier—and D.E. Shaw Group fell to fifth with $23.6 billion, down 17.48%.

All told, 213 U.S. hedge funds manage at least $1 billion, down from 218 a year earlier. The group manages a combined $1.182 trillion, just 4.2% more than at the beginning of 2009. But that growth was concentrated: The 70 firms with at least $5 billion almost doubled their assets, while the 143 with less than $5 billion grew by $28 billion total.

The New York area remains the undisputed center of the hedge fund world, according to the survey. Firms managing 60% of U.S. hedge fund assets, some $708 billion, are based in the Empire State, while neighboring Connecticut boasts firms with $158.86 billion. Massachusetts knocked California out of third place, with $87.49 billion, meaning that more than 80% of the U.S.’s hedge fund assets are managed by Northeastern firms.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.