Bridgewater Largest Hedge Fund For Fourth Straight Year

May 13 2014 | 12:19pm ET

Bridgewater Associates and JPMorgan Chase remain the world’s largest hedge fund managers, as investors continue to flock to such firms.

Westport, Conn.-based Bridgewater earned the top spot on Alpha magazine’s annual Hedge Fund 100 ranking of the world’s top hedge funds, with $87.1 billion. JPMorgan Asset Management, which includes Highbridge Capital Management, remains a distant second at $59 billion.

Brevan Howard Asset Management retained third place with $40 billion, unchanged from last year. Och-Ziff Capital Management and BlueCrest Capital Management swapped fourth and fifth place, the former with $36.1 billion and the latter $32.6 billion.

All told, the 100 largest hedge funds manage a combined $1.51 trillion, 14% more than last year. Over the past two years, that figure has jumped nearly 25%. By contrast, total hedge fund assets increased only 9.7% over the past year, and the 100 largest account for more than half of the $2.85 billion total.

There was something of a shakeup in the top 10, with three new entrants: AQR Capital Management leapt from 14th place to seventh, Lone Pine Capital from 11th place to eighth and Viking Global Investors from 17th place to 10th. BlackRock rose to sixth from eighth, while Man Group dropped from sixth to ninth.

The 25 Largest Hedge Funds

rank firm assets change from 2013
1 Bridgewater Associates $87.1 billion +4.6%
2 JPMorgan Asset Management $59.0 billion +7.7%
3 Brevan Howard Asset Management $40.0 billion no change
4 Och-Ziff Capital Management $36.1 billion +19.1%
5 BlueCrest Capital Management $32.6 billion +8.3%
6 BlackRock $31.3 billion +17.6%
7 AQR Capital Management $29.9 billion +47.3%
8 Lone Pine Capital $29.0 billion +31.8%
9 Man Group $28.3 billion -4.4%
10 Viking Global Investors $27.1 billion +39.7%
11 Baupost Group $26.8 billion +0.4%
12 Adage Capital Management $25.0 billion +36.2%
13 Winton Management $24.7 billion -3.9%
14 GAM Holding $24.4 billion +24.5%
15 Renaissance Technologies $24.0 billion +9.1%
16 Elliott Management $23.3 billion +8.4%
17 D.E. Shaw Group $22.2 billion -6.0%
18 Davidson Kempner Capital Management $22.0 billion +18.3%
19 Millennium Management $21.0 billion +22.1%
20 Paulson & Co. $20.3 billion +14.6%
21 Farallon Capital Management $19.8 billion +7.6%
21 King Street Capital $19.8 billion +13.8%
23 Appaloosa Management $19.3 billion +28.7%
24 Canyon Capital Advisors $17.8 billion +20.3%
25 Two Sigma Investments $17.5 billion +53.5%

Source: Alpha magazine

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