Billion Dollar Club

Mon Mar 1, 2010

The largest 213 American hedge fund firms gain $48 billion, or 4.2%, in 2009 for a total of $1.182 trillion. JPMorgan edges Bridgewater out of top slot, while Soros Fund Management pushes D.E. Shaw out of fourth place.

By Katrina Dean Allen Despite the big performance gains of 2009 and the loose talk about money finally flowing back into hedge funds, the industry still has a long way to climb to get back to its peak. The Billion Dollar Club—AR's biannual survey of American hedge funds managing $1 billion or more—shows that the 213 hedge fund firms running $1 billion or more in assets managed a combined total of $1.182 trillion as of January. That's just a fraction above what they managed at the beginning of 2009, when 218 firms held a combined total of $1.134 trillion. By the middle of 2009, however, many firms had begun to fully absorb the aftershocks of the market losses and scandals of late 2008. Only 205 firms managed $1 billion or more, and assets in The Club fell to $1.084 trillion. At the Club's high point in July 2008, the biggest...

ISSN: 2151-1845 / CDC10004H

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