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Top Hedge Fund Assets Surpass $1.6 Trillion


Date: Tuesday, March 4, 2008
Author: Absolute Return

TOP HEDGE FUND ASSETS

SURPASS $1.6 TRILLION

ACCORDING TO ABSOLUTE RETURN SURVEY

 

JPMORGAN RETAINS TOP SPOT

 

Tudor, ESL Fall from Top 10;

Replaced by Paulson, Avenue

 

 

New York, March 4, 2008 – Assets of the biggest U.S. hedge funds in 2007 increased 34% over the prior year’s total – despite three of the 10 largest hedge fund firms losing $24 billion in assets during the second half of the year.  As of January 1, the biggest U.S. hedge fund firms managed combined assets of $1.605 trillion, according to the just-released biannual survey published by Absolute Return magazine, a unit of HedgeFund Intelligence.

 

Assets of the 262 hedge fund firms that manage $1 billion or more, known as the Absolute Return Billion Dollar Club, increased by $407 billion, or 34%. That’s $60 billion more than their gain in 2006 and greater than any one-year increase since Absolute Return began tracking industry assets in 2003. During the second half of the year, however, fund assets increased by only 10%, the smallest half-year increase since the survey began.

 

JPMorgan (including JPMorgan Asset Management and Highbridge Capital Management) remains the biggest U.S. hedge fund manager, with $44.7 billion. While that number is down from JPMorgan’s $56.2 billion total last July, the firm’s assets are significantly higher than the $34 billion held last January. JPMorgan’s assets are $8.7 billion higher than the second- and third-place firms, Bridgewater Associates and Farallon Capital Management – both of which now manage $36 billion.

 

Rounding out the top five, Renaissance Technologies rose to fourth place with $34 billion, a 41.67% increase, while Och-Ziff Capital Management rose one spot to fifth place, with $33.2 billion, an increase of 58.10%.

 

The biggest winner was Paulson & Co., which joined the top 10 for the first time after assets increased nearly 306% during 2007 to end the year at $29 billion. The biggest loser of 2007 was Goldman Sachs Asset Management, which fell to seventh place from second as assets dropped 27% in the second half to end the year at $29.20 billion. Since July, Goldman, JPMorgan and D.E. Shaw all lost hedge fund assets. D.E. Shaw fell to sixth place, from third.

 

The Absolute Return Billion Dollar Club is the only survey of U.S. hedge fund assets that whenever possible focuses on the aggregation of January 1 data, which includes the most recent redemptions and allocations, thereby making the survey more current and accurate than those focusing on December 31 numbers.

 

The full list was published in Absolute Return’s March issue. Unless noted otherwise, all asset figures are as of January 1, 2008.

 

TOP TEN U.S. HEDGE FUND FIRMS – JANUARY 2008

 

Firm                                                                AUM ($ billions)

JPMorgan                                                        $44.70

Bridgewater Associates                                  $36.00

Farallon Capital Management                         $36.00*

Renaissance Technologies                            $34.00*

Och-Ziff Capital Management                         $33.20*

D. E. Shaw Group                                           $32.20

Goldman Sachs Asset Management              $29.20*

Paulson & Co.                                                 $29.00

Barclays Global Investors                               $26.20

Avenue Capital Group                                     $20.56

 

* as of December 31

Source: Absolute Return

 

 

 

About Absolute Return

Absolute Return is the leading source of U.S. hedge fund news and information, featuring proprietary data and analysts on more than 2,600 U.S. single-manager hedge funds.  Absolute Return, a monthly magazine, and the Absolute Return Directory and Database are divisions of HedgeFund Intelligence, the biggest provider of hedge fund news and data in the world with the largest and most knowledgeable editorial and research teams of any hedge fund information provider. We supply data on over 8,600 funds and comprehensive news and analysis from across the globe.  For more information, please visit www.hedgefundintelligence.com/ar.

 

 

 

 

_________________________

Brendan F. McManus

Assistant Account Executive

Global Capital Practice Group

Walek & Associates | Financial & Corporate Communications

317 Madison Ave.
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Suite 2300
| New York | NY | 10017

Direct: 212.590.0524 | Fax: 212.889.7174 | Mobile: 201.819.2918

E-mail: bmcmanus@walek.com | www.walek.com

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