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TCI, Third Point Among Finalists for Hedge Fund Industry Awards

Institutional Investor and Alpha reveal the finalists for the annual awards gala and reception being held in New York on June 28.

  • By Amanda Cantrell

The hedge fund industry produced its best returns of the past five years in 2017 — but several managers outshone their peers even by those standards. 

The average hedge fund returned 8.5 percent last year, according to data tracker HFR. Christopher Hohn beat that handily — by nearly 20 percentage points, in fact. His firm TCI Fund Management produced a gain of 28.3 percent in its flagship hedge fund, according to Institutional Investor's Alpha, one of several reasons TCI is being nominated for Institutional Investor and Institutional Investor’s Alphas 16th annual Hedge Fund Industry Awards. 

TCI is a finalist in both the Activist Hedge Fund Manager and Institutional Hedge Fund Manager categories. In the activist category, TCI is joined by Mick McGuire's Marcato Capital Management, whose Marcato International fund gained about 26 percent last year, according to a document from investment bank HSBC that tracks hedge fund performance. Rounding out the category are Starboard Value, Toscafund Asset Management, and ValueAct Capital Management.

The Institutional Hedge Fund Manager category isn’t all about the activists this year, however. Other finalists in the category are multi-strategy firms Citadel and Millennium Management, as well as credit-oriented firm Canyon Partners. One of the best-performing hedge fund strategies last year was long-short equity, as demonstrated by a strong lineup of equity manager finalists this year. 

Among them: Joseph Edelman’s Perceptive Advisors, whose biotechnology-oriented Perceptive Life Sciences Fund produced a hefty 40 percent gain last year. That same strategy propelled one of this year’s top-performing firms in the Emerging Hedge Fund Manager category: EcoR1 Capital. The firm, founded by former BVF Partners portfolio manager Oleg Nodelman, produced a soaring 52.6 percent gain last year. 

Institutional Investor begins the voting process with a public call for nominations; the editorial staff concurrently develops a list of candidates based on its knowledge of the firms and institutions and discussions with its wide network of industry sources. The staff then vets each of the nominations, as well as its internally generated candidates, based on how strongly it believes the candidates meet a wide range of criteria for their respective categories. 

Once the nominees are publicly announced, the magazine group conducts a wide survey of U.S. institutional investors and invites them to vote for the manager nominees. The winners will be announced at a gala dinner and ceremony at the Mandarin Oriental in New York on June 28. 

For more information about the dinner or to request a ballot, please visit the event web site.

In the coming days, Institutional Investor will announce the Hedge Fund Allocator Finalists, as well as two industry Lifetime Achievement honorees. The Hedge Fund Rising Stars — a list of 30 rising stars in the hedge fund industry, also honored at the dinner — will be revealed at the end of the month.

Following is a complete list of the 2018 hedge fund manager finalists. The list can also be found on the Hedge Fund Industry Awards web site.


Institutional Hedge Fund Manager of the Year

Canyon Partners

Citadel

Millennium Management

TCI Fund Management

Third Point


Emerging Hedge Fund Manager of the Year

EcoR1 Capital

Lunia Capital

Melvin Capital Management

SQN Investors

Suvretta Capital Management


Large Fund-of-Hedge-Funds Manager of the Year

Blackstone Group

K2 Advisors

Morgan Stanley Investment Management

Pacific Alternative Asset Management Co.

Rock Creek Group


Boutique Fund-of-Hedge-Funds Manager of the Year

Gapstow Capital Partners

Greenlight Masters

Ironwood Capital Management

Morgan Creek Capital Management

Silver Creek Capital Management


Outsourced CIO of the Year

Cambridge Associates

Goldman Sachs Asset Management

HighVista Strategies

Partners Capital

Perella Weinberg Partners


Hedge Fund GP Investor of the Year

Blackstone Group

Dyal Capital Partners

Paloma Partners

Reservoir Capital Group

Schonfeld Strategic Advisors


Equity-Focused Hedge Fund Manager of the Year

Coatue Management

Impala Asset Management

Light Street Capital

Perceptive Advisors

Tiger Global Management


Credit-Focused Hedge Fund Manager of the Year

Chatham Asset Management

Marathon Asset Management

MidOcean Credit Partners

Napier Park Global Capital

Silver Point Capital


Hybrid Hedge Fund Manager of the Year

Cerberus Capital Management

Drawbridge Special Opportunities Funds/Fortress Investment Group

Valiant Capital Management

Viking Global Opportunities 

Vivo Capital


Multistrategy Hedge Fund Manager of the Year

Canyon Partners

Citadel 

D.E. Shaw Composite Fund

Elliott Management Corp.

Millennium Management


Relative-Value Hedge Fund Manager of the Year

Citadel Global Fixed Income Fund

One William Street Capital Management

Paloma Partners

Pimco Tactical Opportunities Fund

Waterfall Asset Management


Activist Hedge Fund Manager of the Year

Marcato Capital Management

Starboard Value 

TCI Fund Management

Toscafund Asset Management

ValueAct Capital Management


Event-Driven Hedge Fund Manager of the Year

Elliott Management

Gates Capital Management 

Owl Creek Asset Management

P. Schoenfeld Asset Management

Strategic Value Partners


Macro Hedge Fund Manager of the Year

Element Capital Management

Emerging Markets Special Opportunities

Haidar Capital Management

Massar Capital Management

Pharo Management


Quantitative Hedge Fund Manager of the Year

D.E. Shaw Group

Man AHL Evolution

PDT Partners

Renaissance Technologies

Two Sigma


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