JPMorgan Hedge Fund Assets Down, But It's Still No. 1

Mar 5 2008 | 8:20am ET

JPMorgan Chase’s hedge funds shed one-fifth of their assets in the second half of last year. Yet the firm remains by far the largest hedge fund manager in the U.S., according to a new survey.

JPMorgan’s hedge fund assets under management dropped to $44.7 billion in the second half, according to Absolute Return magazine. It managed $56.2 billion in July. But it remained almost $9 billion ahead of its nearest competitors: Bridgewater Associates and Farallon Capital Management, both of which manage $36 billion. In the July survey, Bridgewater was the fourth-largest U.S. hedge fund manager with $32.1 billion.

All told, the 262 largest hedge fund firms in the U.S.—those managing $1 billion or more—boosted their asset base to 34%, rising $407 billion to $1.6 trillion. But three of the top 10 managers actually lost assets, according to the survey, none more so than Goldman Sachs, whose quantitative hedge fund offerings were battered by market volatility last year.

Goldman fell from second place to seventh, with assets dropping 27% to $29.2 billion. D.E. Shaw also lost assets, slipping from third place to sixth.

Renaissance Technologies, in spite of highly-publicized difficulties for its largest hedge fund, enjoyed a banner year in terms of asset gathering: Its assets rose 42% to $34 billion, giving it fourth place. Newly publicly-traded Och-Ziff Asset Management did even better, adding 58% to rise to fifth place on the list, with $33.2 billion in assets.

New to the top ten in the second half are $29 billion Paulson & Co., some of whose funds enjoyed triple-digit performances last on bets against the subprime mortgage and credit markets, and Avenue Capital Group. Tudor Investment Corp. and ESL Investments fell from the list.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.