The world's biggest hedge fund firms, like $89.6 billion Bridgewater Associates, retain their spots atop Institutional Investor’s annual Hedge Fund 100 ranking, though smaller, fast growers are catching up. Total assets managed by Hedge Fund 100 firms grew by 7.9 percent between 2014 and 2015, to more than $1.63 trillion. This compares with a 6 percent growth rate for the industry, according to Atlanta-based investment research firm eVestment. Since 2013, the top 100 firms have grown assets by nearly 23 percent, more than half the industrywide total. The ten largest firms jumped 9 percent, to $414 billion, and account for more than 14 percent of industrywide assets.
In the 2015 Hedge Fund 100, we provide each manager’s total hedge fund assets under management as of January 1, 2015, unless otherwise indicated. Where possible, we also show assets at the individual fund level, with net returns for two years and since inception, and 2013 fund capital as reported last year. The ranking last year was based on capital as of January 1, 2014, unless otherwise noted.
Asset totals reflect internally run, single-manager hedge funds and separate accounts, including long-only funds that charge hedge-fund-style fees; they exclude funds of hedge funds, overlay accounts, funds managed by third parties, mutual funds and traditional long-only money, dynamic money market funds, assets in collateralized debt and bond obligations, private equity and venture capital. We gathered data through questionnaires completed by hedge fund managers, supplemented by extensive staff research. Senior Editor Jane B. Kenney compiled the ranking with the assistance of Senior Contributing Writer Stephen Taub. To request a questionnaire for next year’s Hedge Fund 100 ranking, please e-mail your contact details to hf100@iimagazine.com.