Top Hedge Funds surge past $900 billion Mark for first time, powered by Millennium, DE Shaw, Icahn and Gotham
|July 22nd, 2014||
|The latest Top U.S. Equity Hedge Fund list has been released, revealing that the top 100 hedge funds now manage $908 billion in assets. Overall, the assets of the top funds have increased by nearly $33 billion, or 4%, year-to-date.|
The rise in assets YTD can largely be attributed to the seventeen hedge funds on the Top 100 Equity Hedge Fund list that have seen their equity assets increase by more than $1 billion. Leading the equity asset surge are Millennium Management (+$5.4B), D.E. Shaw & Co (+$4.4B), Icahn Associates (+$2.5B) and Gotham Asset Management (+$2.4B).
Several notable value and event-driven focused equity funds were among the top gainers, including Corvex Management, Fir Tree Partners and Third Point Management.
Not surprisingly, multi-strategy and long/short equity styled funds are again the dominating strategies on the top 100 hedge fund list, overseeing 23% and 15% in equity assets, respectively. Value-focused hedge funds are responsible for managing 12% of the list’s assets, while Growth/GARP and Quant funds account for 13% and 10%.
Regionally, Manhattan maintained its place as the center of the hedge fund universe with the greatest amount of hedge fund equity assets under management (~53%). The other major hedge fund hubs represented on the list include the Greenwich/Fairfield County area, Boston, Chicago, and San Francisco..
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