JPMorgan Ranks as Top U.S. Hedge-Fund Manager With $56 Billion

Date: Thursday, September 13, 2007
Author: Katherine Burton, Bloomberg.com

JPMorgan Chase & Co. topped the list of the largest U.S. hedge-fund firms, managing $56.2 billion as of July 1, according to HedgeFund Intelligence's Absolute Return magazine.

JPMorgan's hedge-fund assets have jumped 65 percent this year, the publication said. The New York-based financial firm bought Highbridge Capital Management in late 2004, adding $7 billion, or 60 percent of its hedge-fund totals at the time.

Goldman Sachs Group Inc. of New York, which won the top ranking a year ago, oversaw $40 billion as of June 29, a 22 percent increase from the beginning of the year. D.E. Shaw, the New York-based firm founded by David Shaw, ranked No. 3 with $34 billion in assets.

The Top 10 largest U.S. hedge-fund firms together managed $308.7 billion or about 18 percent of the industry's $1.7 trillion in assets as of midyear. * Top 10 U.S. Hedge Fund Firms

JPMorgan Asset Management $56.20 billion Goldman Sachs Asset Management $39.98 billion D.E. Shaw Group $34.00 billion Bridgewater Associates $32.10 billion Och-Ziff Capital Management $29.20 billion Renaissance Technologies Inc. $29.20 billion Farallon Capital Management $26.06 billion Barclays Global Investors $23.00 billion Tudor Investment Corp. $20.96 billion ESL Investments $18.00 billion *

To contact the reporter on this story: Katherine Burton in New York at kburton@bloomberg.net