Top Hedge Fund Assets Near $1.5 Trillion |
Date: Tuesday, September 11, 2007
Author: Absolute Return
Media Contact: Brendan McManus Walek & Associates 212.590.0524 bmcmanus@walek.com Michelle Celarier Editor, Absolute Return 212.224.3021 mcelarier@absolutereturn.net TOP HEDGE FUND ASSETS NEAR $1.5 TRILLION JPMORGAN RETAINS TOP SPOT Highbridge, Paulson Double; Cerberus Falls From Top 10 New York, September 11, 2007 – Assets of the biggest U.S. hedge funds increased more during the first half of 2007 than ever before. As of July 1, the biggest U.S. hedge fund firms managed combined assets of $1.457 trillion, according to the just released biannual survey published by Absolute Return Assets of the 246 hedge fund firms that manage $1 billion or more, known as the Billion Dollar Club, increased during the first six months by nearly $273 billion, or 23% - more than double their six-month gain over the same period last year and greater than any six-month increase since the survey began tracking industry assets in 2002. The huge growth occurred just before the markets began to hurt the performance of the top hedge funds. JPMorgan Asset Management (including Highbridge Capital Management) leads the ranking with $56.2 billion under management, an increase of 65.29% since January. Goldman Sachs Asset Management remained in second place for the second consecutive year with nearly $40 billion under management, a 22.9% increase. (Goldman’s numbers were as of June 29.) Rounding out the top five, D.E. Shaw Group rose to third, with $34 billion, surpassing Bridgewater Associates, with $32.1 billion. Och-Ziff Capital Management rose two spots to fifth place, with $29.2 billion, an increase of 39.05% since January. The biggest firms continued to gain the most, with the top nine firms controlling more than $20 billion each and nearly $291 billion in combined assets - up from seven such firms with $194 billion in January, and only four with $110 billion last July. The full list was published in figures are as of July 1, 2007. TOP TEN U.S. HEDGE FUND FIRMS – JULY 2007 Firm AUM JPMorgan Asset Management $56.20 Goldman Sachs Asset Management* $39.98 D. E. Shaw Group $34.00 Bridgewater Associates* $32.10 Och-Ziff Capital Management** $29.20 Renaissance Technologies Corporation $29.20 Farallon Capital Management $26.06 Barclays Global Investors $23.00 Tudor Investment Corporation $20.96 ESL Investments** $18.00 * as of June 29 ** estimated Source: Absolute Return About Absolute Return Absolute Return proprietary data and analysis on over 1,600 U.S. single-manager hedge funds. monthly magazine, and the Absolute Return Directory and Database are divisions of HedgeFund Intelligence, a global provider of hedge fund news and data. For more information, please visit www.hedgefundintelligence.com/ar/
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