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Top 200 Hedge Fund List grows by more than $50 billion

Date: Tuesday, December 18, 2012
Author: HedgeTracker

The Top 200 U.S. Equity Hedge Fund list fared well in the third quarter of 2012 as total US equity assets under management increased by greater than $50 billion (or 8%) from $650 billion to >$700 billion. More than 70% of the top 200 hedge funds saw their US equity assets grow over the course of the quarter with 8 funds increasing their ranking by 30 or more spots.

Among the big gainers that moved up in the rankings was Pine River Capital Management (91 spots), event-driven Corvex Management (41 spots), Duquesne Capital Management (36 spots) and long/short equity-focused Soroban Capital Partners (34 spots). On an absolute basis, 4 managers saw US equity assets increase in excess of $2 billion. These managers included value-focused AQR Capital Management, GARP-focused Och-Ziff Capital Management, and two global macro investors Soros Fund Management and PointState Capital.

There were 11 new hedge funds on this quarter’s top 200 hedge fund list. Among the new entrants is Dan Benton’s Andor Capital Management, a familiar hedge fund name that shut down in 2008 at the height of the financial crisis. Andor Capital is a technology-focused hedge fund that broke into the top 200 this quarter at position 193.

The biggest losers were HBK Investments, Taconic Capital Advisors, Ares Management, Elm Ridge Management and Cerberus Partners, all which fell by at least 40 spots. In addition, Blum Capital Partners (previously 147), Davidson Kempner Capital Management (previously 149) and Sleep Zakaria & Co (previously 169) were all top 175 funds that did not make this quarter’s list.

Regionally, New York City Hedge Funds maintained their dominance as the center of the hedge fund universe with the greatest amount of assets under management (over 50%). The other major hedge fund hubs represented on the list include Greenwich/Stamford/Westport (over $100 billion), Boston, Chicago and San Francisco.

HedgeTracker releases a series of top hedge fund lists on a quarterly basis. To view the Top Hedge Fund lists in their entirety, please visit HedgeTracker’s Hedge Fund Ranking Portal.