The rise of Corvex Management – Corvex remains #1 on top 75 Emerging Hedge Fund Manager list

September 26th, 2014
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The Top 75 U.S. Equity Emerging Hedge Fund Managers now manage almost $90 billion in U.S. equity assets, according to the latest hedge fund industry report.

Corvex continues its impressive run up The Top 75 Emerging Manager List by retaining the top spot for another quarter with greater than $7B in US equity assets. Corvex entered HedgeTracker’s inaugural Emerging Hedge Fund Manager list in Q4 ’12 at the sixth spot and steadily rose the ranks each quarter finding the top spot in Q1 ’14.

Corvex is an event-driven and opportunistic investor that was founded in 2010 by Keith Meister, a long-time protégé of Carl Icahn. Corvex is based in New York City and particularly focuses on equity investments, special situations and distressed securities largely in North America.

The top 5 is rounded out by PointState Capital ($6.7B AUM, founded in 2011), Soroban Capital Partners ($6.4B AUM, founded in 2010), PDT Partners LLC ($3.7B, founded in 2012) and Roystone Capital Management ($2.5B, founded in 2013).

PDT Partners has been the biggest moving in 2014, jumping 25 spots since Q4 ’12 after seeing assets grow nearly $3B in two quarters. Four other investors, Palestra Capital Management, Overland Advisors LLC, Sachem Head Capital Management and Voloridge Investment Management, have shared similar success jumping at least 10 spots over the same two quarters.

The top 75 Emerging Hedge Fund Managers list includes 8 funds founded in 2013. Two names in that group, Roystone Capital Management and Tourbillon Capital Partners, both have amassed more than $1B in US equity assets. Roystone, which holds the 5th spot with nearly $2.5B in US equity assets, is a value-orientated hedge fund firm that was founded in 2013 by Richard Barrera, a former manager at Redwood Capital Management.

Tourbillon Capital Partners, which holds on to the 33rd spot on the list with $1B in assets, is a global alternative asset management firm that focuses primarily on North American opportunities throughout all sectors in liquid equity strategies. Tourbillon was founded with $250M under management by Jason Karp, an alum of SAC’s CR Intrinsic unit and Carlson Capital.

The final spot on the top 75 list belongs to Sabby Management LLC, a healthcare focused fund with $339M equity assets under management. Sabby is led by Hal Mintz, a New York investment banker, who previously managed BAM Capital. Sabby is an activist investor that predominantly invests in warrants of small cap healthcare companies.

Ranking Methodology: The Top U.S. Equity Emerging Manager Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms’ overall U.S. equity assets. The Emerging Hedge Fund rankings include firms that were launched in 2009 or later. To view the list in its entirety, please visit Hedge Tracker’s Hedge Fund Portal.
For Detailed Investor Profiles on these Investors, click below:
Corvex Management
PDT Partners LLC
PointState Capital
Roystone Capital Management
Soroban Capital Partners
Sachem Head Capital Management
Related People: Ahmar Ahmad; Anuj Malhotra*; Curry Ford; Eric Mandelblatt; Gaurav Kapadia; Keith Meister; Michael Doniger; Nicholas Graziano; Peter Muller; Rich Barrera; Rupal Doshi; Scott Ferguson; Scott Friedman; Sean Cullinan*; Stanley Druckenmiller*; Steve Johnson; Tej Arora; Zach Schreiber (CEO)
Related Entities: Sachem Head Capital; Alpha Dog LLC; Blackstone Group; Morgan Stanley*; PDT Capital Group LP; PDT Partners; PointState Capital LP; PointState Fund LP; PointState Holdings LLC; Roystone Capital Offshore; Roystone Capital Partners LP; Sachem Head GP LLC; Sachem Head Master; Soroban Capital Partners LLC; TPG-Axon Capital Management*; Point State Capital; Process Driven Trading; Roystone Capital Master Fund Ltd; Sachem Head LP; Soroban Fund LLC
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News

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