Thursday, 24 July 2014
Last updated 4 hours ago
Apr 27 2011 | 11:36am ET
The Man Group reclaimed a title it lost some time ago with its acquisition of GLG Partners, becoming once again the world's largest hedge fund.
The London-based firm saw its assets under management swell by almost $30 billion in the six months ended April 7, Bloomberg data shows. Most of that increase comes from the GLG merger; Man's former rival brought some $25 billion in assets when Man paid $1.6 billion for it in October.
The Man-GLG merger pushed Bridgewater Associates—in recent years the perennial world's largest hedge fund—into second place with $62 billion to Man's $69 billion. Likewise, JPMorgan Asset Management dropped one spot to third place, with $45.5 billion.
By one measure, JPMorgan should actually be considered the world's largest hedge fund: Its Highbridge Capital Management is the ninth-largest hedge fund in the world in its own right with $25 billion in assets, down 7.4% from six months ago, when it was the sixth largest.
Paulson & Co. and Brevan Howard Asset Management swapped fourth and fifth place, with the former now boasting $36 billion in assets, a 13% increase. The latter manages $32.3 billion.
Other movers in the top 10 were Och-Ziff Capital Management, which rose from eighth to sixth place with a 9.1% increase in assets under management to $28.7 billion. And BlackRock leapt into the top 10 at Och-Ziff's old spot after its assets rose 17% to $26.6 billion.
The was one new entrant into the top 20: London's Winton Capital Management, which jumped from 22nd place to 15th at $20 billion, a 34% jump. Moore Capital Management dropped from the ranks to 22nd with $15 billion, unchanged from six months ago.
All told, assets managed by the world's 20 largest hedge funds rose 10% to $582.6 billion.
World's Top 20 Hedge Funds
|1||Man Group||$69.0 billion|
|2||Bridgewater Associates||$62.0 billion|
|3||JPMorgan Chase||$45.5 billion|
|4||Paulson & Co.||$36.0 billion|
|5||Brevan Howard Asset Management||$32.3 billion|
|6||Och-Ziff Capital Management||$28.7 billion|
|7||Soros Fund Management||$27.0 billion|
|9||Highbridge Capital Management||$25.0 billion|
|10||BlueCrest Capital Management||$24.5 billion|
|11||Baupost Group||$24.0 billion|
|11||Cerberus Capital Management||$24.0 billion|
|13||Angelo Gordon & Co.||$23.5 billion|
|14||Farallon Capital Management||$21.5 billion|
|15||Winton Capital Management||$20.0 billion|
|16||King Street Capital Management||$19.9 billion|
|17||Goldman Sachs Asset Management||$19.8 billion|
|18||Canyon Partners||$19 billion|
|19||Renaissance Technologies||$17.1 billion|
|19||Elliott Management||$17.1 billion|
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…