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...
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