List of Top 100 Hedge Funds
Hedge funds are alternative investment funds that use pooled monies from investors and employ various strategies to make a significant return (or ‘alpha’) for those investors.
Different hedge funds focus on different investments; hedge fund managers employ a range of different techniques (often very complex) to generate the highest return possible.
A hedge fund is administered by an investment management firm; this usually takes the form of either a limited liability company or a limited partnership.
Hedge funds are usually only available to accredited investors and require a large initial investment.
The term ‘alternative investments’ is used frequently where hedge funds are concerned. This is because a hedge fund is not as tightly regulated as other investment vehicles; use of leverage is not capped and many invest in largely illiquid assets.
The list below gives the top 100 hedge funds worldwide. The list is in alphabetical order, so a hedge fund’s rank in this list does not reflect its size.
Each listing details the individual hedge fund’s investment style and, in some cases, the market opportunities it takes advantage of.
A hedge fund sponsor owned by its employees. It caters to the requirement of pooled investment vehicles, launching and managing hedge funds for clients. Investments are made in the public equity market (US), with a focus on investing in value stocks.
A global asset management company with a focus on sub-investment-grade corporate credit.
Takes a market-neutral approach on both long- and short-term positions. Has a strong focus on the healthcare sector.
Has a strong focus on the finance sector (specifically defaulted and leveraged issuers). Manages private investment funds across different markets of North America and Europe (long and short basis).
Dedicated to alternative investment; specialities include real estate debt and lending, distressed debt, residential and consumer debt, and non-investment-grade corporate credit.
A specialist in distressed debt.
The second-largest hedge fund in the world, it focuses on automated research practices and computer models. AQR is known for using both traditional and alternative investment strategies.
European-focused with a global, multi-strategy approach.
Has a strong focus on the IT and finance sectors. Its main clientele includes pooled investment vehicles and pension/profit-sharing plans.
Hedge fund sponsor owned by its employees. Almost all clients are pooled investment vehicles. Assets invested are predominantly in the IT and consumer discretionary sectors.
This hedge fund employs a long-term, value-orientated approach. It has significant holdings in private debt and private equity, publicly-traded debt & equity securities, and real estate.
Specialises in credit-related investments. The firm focuses on less popular opportunities, employing a flexible, risk-controlled and value-orientated approach.
With a focus on credit, strategies include liquid loans, long/short liquid credit, private/opportunistic debt and high yield.
A global asset management corporation with a focus on effective risk management.
A US-based hedge fund, focusing on real estate.
This hedge fund is focused on fixed-income macro trading and is one of the largest alternative asset managers.
Focuses on global markets, credit and private equity.
Absolute return strategy – trades a range of securities and derivatives.
The largest hedge fund in the world, focusing on a global macro-investing strategy.
Specialises in credit investment strategies with a multi-asset class, multi-strategy approach. Its main focus is on companies with leveraged balance sheets.
European hedge fund focused on infrastructure, client base and risk.
Providing investment solutions across four key areas – bonds, asset allocation, equities and absolute performance strategies. This hedge fund is also a leader in sustainable investments.
Taking a deep-value, credit-intensive approach, this hedge fund specialises in special situation (value-orientated) investments.
A global fixed income specialist that manages enhanced fixed income, absolute return, volatility and tail-risk strategies.
A multi-strategy, alternative asset management firm focused on philosophy, people and process.
Focused on distressed credit markets and distressed assets, this firm thrived during the financial crisis.
Provides global macro-strategies in a variety of global markets.
An all-weather approach, focusing on sustained value through different economic cycles.
Specialities include real estate, equity and credit.
An ‘active ownership’ investment firm that is focused on European investments – it acquires ownership positions in undervalued companies.
Main areas of focus are social property impact, real estate debt, equities, event-driven & investment-grade corporate credit, strategic value credit, and convertible bonds.
A broad range of investment strategies – fixed income & macro, equities, commodities and credit (the firm has teams for each strategy).
Focused on technology, media and telecommunications (public and private markets).
A macro hedge fund with a focus on market movement related to economic and political changes.
Specialities include global investment and technology development.
Strategies include absolute, fixed income, relative value, dynamic and dynamic plus.
One of the world’s oldest and largest hedge funds.
A focus on IT, communications, environmental/energy technologies, and health & life sciences.
Long/short and long-only equity with a research-based investment approach (stock picking).
Practises a modern macro style of investing.
A strong focus on distressed securities (largely in the debt of companies near bankruptcy or already bankrupt).
Invests across asset classes, seeking to achieve returns through bottom-up fundamental analysis.
Invests worldwide in real estate, public companies, private companies and sovereign debt.
Private equity, permanent capital, credit and real estate investment strategies.
Strategies include equity, fixed income, systemative, and multi-asset solutions.
Using a multi-strategy approach, it offers services to companies operating in stable industries.
Specialises in investment opportunities in the following sectors: leveraged loans, high-yield bonds, distressed debt, credit-themed equities, structured products and emerging markets.
A focus on long/short credit, tactical trading, multi-strategy and multi-manager investing.
Leading the alternative investment market, this firm focuses on discretionary and quantitative investments.
Long-term, valuation-based investments across a range of specialities.
One of the longest-tenured hedge funds globally. It invests in just a small section of its total assets.
Its main focus is on fixed income, equities, sustainable & responsible investment asset classes, multi-manager, and commercial property.
A value-oriented firm which manages funds for charitable foundations and other philanthropic organisations (as well as its main clients).
Makes long-term investments and has a bottom-up, fundamental approach. Its main sector focus is TMT, consumer, healthcare and industrials.
This leading alternative investment firm primarily focuses on real estate, energy, credit and growth capital.
Invests mainly in equities, bonds, distressed companies, foreign exchange, options and warrants.
Strategies include global equity, regional equity (UK, Asia-Pacific, etc.), fixed income, alternative investments, multi-asset, emerging markets, quantitative equity and convertibles.
Its primary focus is on the following strategies: credit, fixed income, fundamental equity, statistical arbitrage, quantitative futures and relative value.
Takes a long-term approach in key sectors that include pharmaceuticals and financial, internet, software, and branded consumer goods.
Invests in public equity markets worldwide.
A long-term approach and a strong focus on the people (getting the right managers) rather than monetary strategies.
Invests across equity and credit (both public and private). Core businesses include energy, fixed income, fundamental strategies and quantitative strategies.
Its main strategies are real estate, corporate credit, emerging markets, leveraged loans, structured credit and private credit.
A long/short fund, its main focus is on stocks.
Specialises in structured credit markets and mortgages.
Uses a multi-strategy approach that includes commodities, fixed income, relative value fundamental equity, quantitative strategies and equity arbitrage.
Its strategy includes credit, global macro and fixed-income relative value, with a long-term approach.
A global macro investor, it invests in cash, macroeconomic themes, futures and derivatives.
Specialises in reinsurance risk (catastrophe bonds, insurance-linked securities, weather derivatives and insurance swaps).
Invests via custom portfolios, registered liquid alternative funds and commingled products.
Alternative global asset management firm that focuses on multi-strategy, real estate and credit.
Invests across the healthcare sector. Investments are made in public and private equity, as well as royalty streams.
Multi-strategy but with a strong focus on relative value and quantitative approaches.
Focuses on event-driven investment strategies like distressed credit, merger arbitrage, and bankruptcy reorganisations and restructurings.
Heavily focused on research; fundamental value investor (public markets).
Specialises in developing countries and has a strong focus on macroeconomic trends.
One of the few solely independent asset managers. Clients include pension funds (some of the world’s largest), financial institutions and sovereign wealth funds.
Focused on relative value trading, it trades fixed incomes, stocks and derivatives.
This Australian equity management firm specialises in international equities investments.
Focused on energy and global macro investment.
Invests primarily in event-driven equities and convertible securities.
Specialises in systematic investment strategies and uses computer-based models to analyse and carry out investments.
Takes a value-driven, fundamentals-based approach. Key strategies include long-only, long/short with market neutrality and long/short with net-long exposure.
Long-only and long/short equity strategies with a focus on a limited selection of businesses.
A long/short, event-driven firm providing services to pooled investment vehicles.
Focuses on distressed debt and credit investments.
A world-leading firm in the preferred and capital securities market, specialising in the management of preferred security portfolios.
Invests using an event-driven, value-oriented strategy.
Focuses on companies in the software, internet, consumer and payments industries. A public equity business with a private equity strategy.
Primarily focused on fixed-income corporate credit and equity strategies, mortgages and other structured products.
Primarily invests in alternative investment markets and public equity.
Best known for its discretionary macro trading.
Heavily governed by the principles of technology and innovation.
A focus on commingled funds, with a range of advisory partnerships and customised discretionary portfolios.
Invests in public equity and hedging markets. Focuses on companies that are currently out of favour with investors.
Focuses primarily on opportunities in real estate, corporate assets & sovereign debt, infrastructure, residential mortgages, logistics & transportation, and speciality finance.
A focus on long-only, long/short and liquid/illiquid strategies.
Specialises in family office investing, sustainable investing, defined-contribution investments, financial reserves management, liability-driven investing and more.
A key focus on statistical and mathematical data for the decision-making process.
Takes an event-driven investment approach.
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