Glenview Named Best Big Hedge Fund

Jan 8 2014 | 1:40pm ET

Glenview Capital Partners was the best-performing large hedge fund of 2013, according to Bloomberg Markets magazine's annual ranking.

The New York-based hedge fund's $1.8 billion Opportunity Fund soared 84.2% in the first 10 months of last year, topping Matrix Capital Management (up 56%), Paulson & Co.'s Recovery Fund and Lansdowne Partners. SAC Capital Advisors, which was last year's most profitable hedge fund, was cut from the list because it has agreed to become a family office as part of its guilty plea on insider-trading charges.

The Children's Investment Fund Management and Owl Creek Asset Management also made the top 10. Third Point came in 12th place, up 28.8%. Paulson had four other entries among the top 100.

Bloomberg Markets named Rima Senvest Management's Senvest Partners the best-performing mid-sized hedge fund of 2013, with a 58.8% return through Oct. 31.

Glenview's returns were driven by its bets on healthcare stocks; founder Larry Robbins became bullish on the sector after the U.S. Supreme Court in 2012 refused to strike down President Barack Obama's signature healthcare reform, which Robbins believes will lead to increased hospital profits. And Robbins, who returned 30% in 2012, remains optimistic about the future.

"The current environment is opportunity-heavy, and it's return heavy," he told Bloomberg Markets. "We've been taking advantage of it rather than having our bats on our shoulders while they're throwing underhanded softballs."


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...