Europe’s Largest Hedge Fund Managers Grow By 22%

Aug 18 2010 | 2:43pm ET

Brevan Howard Asset Management remains the largest hedge fund manager in Europe as the top 10 hedge funds in the region increased their assets under management by more than a fifth.

The biggest European hedge funds managed US$146 billion at the end of June, 22% more than at the end of June 2009, according to Financial News’ annual survey. With the largest hedge funds buoyed by investors returning to the asset class—in the prior year, their assets dropped by 33%—there wasn’t much movement among the top 10, or top 20 for that matter.

Brevan’s assets grew by 31.1% over the past year to US$31.8 billion. Man Group’s AHL Strategy held onto the top spot despite a meager 3.9% increase in assets to US$21.2 billion. BlueCrest Capital Management and Lansdowne Partners swapped the third and fourth positions, with the former growing by 65.3% to US$20.5 billion and the latter growing by 16.4% to US$14.2 billion.

Winton Capital Management (US$13.6 billion, a 15.3% increase over last year) and GLG Partners ($11.1 billion, a 23.3% increase) were fifth and sixth, no change from June 2009. GAM rose from ninth to seventh with a 35.2% increase in assets, to US$9.6 billion at the end of December, while Sweden’s Brummer & Partners jumped from 13th to eighth with a 43.3% increase in assets to US$8.6 billion, the only firm to enter the top 10 this year.

The Netherlands’ Transtrend dropped from seventh to ninth, with a 7.3% increase in assets to US$7.6 billion. Sloane Robinson remained the 10th-largest European hedge fund with a 5.7% increase in assets to US$7.4 billion.

The Children’s Fund Management fell out of the top 10, its assets under management dropping 25%. It remained in the top 20, unlike Horseman Capital Management, which saw its asset base drop by 80% after founder John Horseman decided to retire from the firm in December.

Two managers entered the top 20, according to FN: Comac Capital and Polygon Investment Partners, the latter a re-entry.

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