Top 100 Mid-Sized Hedge Funds oversee more than $60 Billion, Emerging Managers Account for 20% of Top Funds

September 24th, 2012
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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.

Not surprisingly, the top investment strategy for the 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.
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For Detailed Investor Profiles on these Investors, click below:
Breeden Capital Management
Sandell Asset Management
Related People: Richard Breeden; Thomas
Related Entities: Breeden European Partners (California) LP; Breeden Partners (Cayman) Ltd; Breeden Partners California LP; Breeden Partners LP; Castlerigg Global Select; Castlerigg International Master; Castlerigg Master Investments; Richard C. Breeden & Co; SAMC
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Featured Reports

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