Top 100 Mid-Sized Hedge Funds oversee more than $60 Billion, Emerging Managers Account for 20% of Top Funds
|September 24th, 2012||
|The list of the Top 100 Mid-Sized Equity Hedge Funds has been released, revealing that the top hedge funds oversee a combined $60.5 billion in US equities. Emerging hedge fund managers, which were launched in 2008 or later, accounted for 20% of the hedge funds on the list. Notably, eight of the Emerging Managers joined the top 100 list for the first time this quarter. |
The Top Mid-Sized Hedge Fund list is led by Blue Harbour Group, Corvex Management and Pine River Capital Management. Greenwich, CT-based Blue Harbour Group was founded by General Atlantic Partners veteran Clifton Robbins and now manages $847 million in equities.
At #2, Corvex Management is the leading “emerging manager” on the list. The Event-Driven focused hedge fund, which was founded in December of 2010 by Keith Meister, reported assets of $846 million. Prior to founding New York City-based Corvex, Mr. Meister served as Vice Chairman of Carl Icahn’s activist focused hedge fund. Notably, Corvex Management was seeded by George Soros' Soros Fund Management.
Minnetonka, MN-based Pine River Capital Management reported equity assets of $845 million. Pine River was founded by its current CEO & Chief Investment Officer Brian Taylor in 2002. The multi-strategy firm primarily pursues opportunities in global relative value trading.
14 hedge funds on the list saw their equity assets increase by more than $100 million over the 2nd quarter. Leading the way were BlueMountain Capital Management and Arbiter Partners LP. While many hedge funds saw their assets jump, the Top Mid-Sized Hedge Funds overall saw their US Equity assets decrease by $2.5 Billion, or -4.1%, during the second quarter of 2012.
Top 100 Mid-Sized Equity Hedge Fund list is Long/Short Equity, which is employed by 27 hedge funds that manage more than $16 billion in assets. Eight of these long/short hedge funds are global equity focused investors. A total of 15 Deep Value and Distressed focused hedge funds made the top 100 Mid-Sized Hedge Fund list, including industry stalwarts Breeden Capital Management and Sandell Asset Management.
Interestingly, fourteen specialty managers made the list with assets topping $8 billion. The specialty managers on the list have a range of investment focuses, including: Convertibles, Commodities, Energy, Financials, Healthcare, Technology and Tech-Media-Telecom.
Ranking Methodology: The top 100 Mid-Sized Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms’ overall U.S. equity assets under management. The list includes the top hedge funds with less than $850 million in U.S. equity assets. To view the Top 100 Hedge Fund list in its entirety, please vist our Hedge Fund Portal here.
For Detailed Investor Profiles on these Investors, click below: