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The Rich List: Institutional Investor’s 25th Annual Ranking of the Highest-Earning Hedge Fund Managers

The top earner made $4.9 billion in 2025 — a new record for an individual in a single year.

Stephen Taub

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RA Capital Preps New Biotech SPAC — With an Eye on China’s Risks

Stephen Taub

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Despite Retail’s Flight from Private Credit, Insurers Continue to Dive In

James Comtois

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Coatue’s Unicorn Spree Marks Its Busiest VC Quarter in Nearly Four Years

Stephen Taub

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China Is Back in Portfolios — But Only for Investors Who Can Live With the Risk

Jonathan Kandell

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Tigers Burning Bright

Stephen Taub

Bill Ackman

Bill Ackman’s Pershing Square Is Losing Money, but He’s Still Asking Investors for More

Michelle Celarier

Sean Dobson, Amherst Capital podcast

Podcast: The Political Fight Over Who Gets to Own — and Rent — America’s Houses

Julie Segal

(Daniel Acker/Bloomberg)

Goldman Survey: Insurers Expect a Recession…Just Not Yet

James Comtois

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CTAs Racked Up Big Gains — At Least Before the Iran War Upended Markets

Stephen Taub

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Nominate the Industry’s Best: Submissions Open for the 2026 Allocators’ Choice Awards

The Editorial Team

AI

Your Alternative Data Has a Reliability Problem. Now It's Getting Worse.

Angelo Calvello

Charles Pertwee/Bloomberg

GMO to Investors: Stop Gambling With Your Assets

James Comtois

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Coatue, Tiger Global, and Rosie

Stephen Taub

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Regulatory Concerns Rise as Insurers Target More Opaque Assets

James Comtois

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Valiant’s Long‑Short Fund and Power SPV Jump Again as Firm Preps to Shut SPV to New Capital

Stephen Taub

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Ray Dalio: U.S. Risks a Major Geopolitical Setback if Iran Holds Hormuz

Michelle Celarier

Welcome to the Third Wave of Investing

AI Could Help with ‘Massive Headache’ of Private Credit Valuation, But Adoption Is Low

John Crabb

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Space Race Explodes Faster Than Expected: ‘We're Going to Look Back on This Era as Historic’ 

James Comtois

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A Surprising Winner in the Trump-Era Energy Landscape

Stephen Taub

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When Oil Becomes the ‘Main Character,’ These Hedge Fund Strategies Outperform

Julie Segal

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ETF Share Classes Off to the Races, But Operational Reality Will Slow Progress

John Crabb

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Portfolio Construction Drives Wedge Between the Best and Worst Performing Endowments

James Comtois

Recent Articles

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While Investors Target New Hedge Funds, MassPRIM Assesses Current Roster

James Comtois

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Biotech Surge Sends Averill to the Top of February’s Market Winners

Stephen Taub

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Institutional Investor Launches Alpha Edge Buy List™

II Press Room

Carvana
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Seligman Bets Carvana’s High-Flying Stock Won’t Hold Up

Stephen Taub

Stefan Strein

Stefan Strein Leaves Cleveland Clinic to Head UNC Management Co.

James Comtois

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Allocators Stay Cautiously Upbeat Despite Rising Geopolitical Risk

James Comtois

Decisions

ETF Investors Grow More Selective in an Uncertain Market

John Crabb

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Discovery Surges as Citrone Bets Against the U.S. Market

Stephen Taub

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Paul Yox, Vice President, External Investing Group, Goldman Sachs

Institutional Investor

The Value Iconoclast

Dave Iben has been chasing opportunities the market has written off, betting that unfashionable stocks such as gold and platinum miners would beat a tech-obsessed world — and the moment may be proving him right.
<p>The Value Iconoclast</p>
Now Top Investors Are Doubting the AI Revolution

Now Top Investors Are Doubting the AI Revolution

Investors like Howard Marks and the Big Short’s Steve Eisman are among those questioning the AI boom.
Michelle Celarier February 6, 2026