Wednesday, 23 July 2014
Last updated 24 sec ago
Feb 10 2014 | 11:19am ET
In terms of dollars and cents, the best-performing hedge fund manager of last year isn't really a hedge fund manager anymore.
Soros Fund Management's Quantum Endowment Fund, which became a family office three years ago, earned $5.5 billion in 2013, according to LCH Investments. The return means that Quantum has earned more for its clients than any other firm, with $39.6 billion in profits over the past 40 years.
Among active hedge fund managers, Lone Pine Capital made more for its clients than any other firm in 2013 with an estimated $5.2 billion in returns. Viking Global Investors padded its investors' pocketbooks by $4.5 billion and Appaloosa Management by $4.2 billion.
Lone Pine was also last year's highest-grossing hedge fund manager with $4.6 billion in client profits and has earned investors $20.5 billion since Stephen Mandel founded it in 1997.
Paulson & Co. also fattened client pockets in 2013, with profits of $2.6 billion. And, showing how much size matters in such a ranking, the world's largest hedge fund's largest hedge fund, Bridgewater Associates' Pure Alpha, generated $2.4 billion in profits, in spite of its single-digit returns last year.
All told, the 20 most profitable hedge funds in history earned clients $55.4 billion last year, LCH said.
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…