New York Home To Half Of Largest Hedge Funds

Apr 23 2009 | 10:56am ET

The Big Apple remains the undisputed capital of the hedge fund world, according to the latest ranking of the world’s largest hedge fund managers.

Almost six in 10 of the biggest hedge fund firms reside in New York or its suburbs, according to Alpha magazine’s annual ranking. Forty-four of the top 100 firms are based in the city itself, including six of the top 10 and 13 of the top 25.

The city’s suburbs boast another 13 of the 100 largest hedge fund managers. Ten are based in Connecticut, including the world’s biggest, Bridgewater Associates, with one each in Long Island, New Jersey and Westchester County, N.Y.

London is the world’s second-biggest center for the biggest hedge funds, with 18 of the top 100, including two of the top 10. The British capital is also the only non-U.S. city with more than one of the top 100; Paris, Tokyo, Stockholm, Sweden, Hamilton, Bermuda, and São Paulo, Brazil.

Outside of the Greater New York area, Boston is the biggest big hedge fund center in the U.S., with seven entries on the list. Chicago, Dallas, San Francisco and the Minneapolis area each boast two.

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