Brevan Howard Now Biggest Hedge Fund Manager In Europe

Aug 18 2008 | 6:58am ET

The biggest hedge funds in Europe are getting bigger, according to a new analysis.

Brevan Howard Asset Management has seen its assets soar 73% in the 12 months ending in June, as it dethrones Man Group’s AHL Strategy as the largest hedge fund manager in Europe, according to Financial News. London-based Brevan Howard, which specializes in global macro fixed-income investing, now manages US$26.3 billion.

All but one of the continent’s top 10 hedge fund saw their assets rise over the 12-month period, as older, more established hedge funds leveraged their superior operational infrastructures to garner more assets, FN said.

All told, the 10 largest hedge fund managers in Europe now run about 30% of the continent’s hedge fund assets. Those 10 have seen their collective assets rise by almost 20% to US$184 billion since the end of last June.

Last year’s top manager, AHL, posted an 18.6% increase in assets to US$25.5 billion, falling into second place behind Brevan Howard. GLG Partners held onto the third spot, as its assets rose 27.4% to US$23.7 billion. Barclays Global Investors’ assets were flat at about US$21 billion, as last year’s second-place finisher fell into fourth place. Lansdowne Partners rounds out the top five with a 20% increase in assets, to US$16.8 billion.

Winton Capital Management did not quite crack Europe’s top five, but the managed futures shop saw its assets rise an impressive 64% during the period, making it the continent’s sixth-largest hedge fund manager with US$15.9 billion.


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