Billion dollar club

Mon Mar 3, 2008



Tudor and ESL leave the top 10, replaced by Paulson and Avenue. JPMorgan stumbles but stays on top; assets of the 262 largest firms surpass $1.6 trillion

By Josh Friedlander

With three of the 10 largest hedge fund firms losing $24 billion in assets during the second half of the year, growth of the Absolute Return Billion Dollar Club slowed to a crawl. Even so, the breakneck pace of early 2007 led the largest U.S. firms to increase assets by 34% over their prior year's total, producing another record year for asset gathering.

Absolute Return's biannual survey of U.S. hedge fund assets includes 262 firms, each managing more than $1 billion, with a combined total of $1.604 trillion as of January 1. Since last year, these firms have increased assets by $407 billion - $60 billion more than their gain in 2006 and greater than any one-year...

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