JPMorgan retains top spot as assets of 246 largest firms
near $1.5 trillion:
Highbridge, Paulson double; Cerberus falls from top 10
By Josh Friedlander
Hedge funds have been raking it in. During the first half of
2007 - just before the summer market volatility that wreaked
havoc on a few of the biggest and most prestigious hedge funds
- the industry was raising more money than ever before. The
Absolute Return Billion Dollar Club, our biannual survey of
U.S. hedge fund assets, lists firms, each managing more than $1
billion, that held a combined total of $1.457 trillion as of
July 1. Since January, these firms have increased assets by
nearly $273 billion - more than double their six-month gain
over the same period last year and greater than any six-month
increase since we began tracking industry assets in 2002.
The biggest fund was also the biggest fundraiser - an...