Man World's Largest Hedge Fund, Dethroning Bridgewater With GLG Merger

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

rank firm assets
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
8 BlackRock $26.6 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

Source: Bloomberg


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