Pershing Square Tops List Of 10 Best Large HFs

Jan 7 2015 | 2:11pm ET

8. Stratus

Manager(s): Team managed
Management Firm, Location: Capital Fund Mgmt, France
Strategy: Multi-strategy
Assets: $3.8 billion
2014 returns: 17.7%
2013 returns: 2.5%

Jean Pierre Aguilar teamed with two theoretical physicists—Jean-Philippe Bouchaud, the current CFM chair, and Marc Potters—to found the Paris-based quant fund CFM in 1991. The fund has weathered some serious turbulence since then, including the 2007 collapse of Sentinel Management Group, the U.S.-based firm that invested CFM’s cash and held $410 million of CFM’s money at the time it declared bankruptcy; the credit crunch, which saw investors pull $800 million from CFM; and most tragically, the 2009 death of Aguilar in a glider accident. As evidenced by its presence on this list, CFM has rebounded spectacularly.

Random Fact: CFM pulled the last of its funds from Lehman Brothers just days before that firm collapsed in 2007.

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