Billion Dollar Club

Billion Dollar Club

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The largest 241 American hedge fund firms gain $102 billion in the first half of 2011, for a total of $1.399 trillion. Bridgewater Associates maintains its number one spot with $70.30 billion

Even though some big-name hedge fund managers called it quits in the first half of this year and performance has been dismal for many firms, the hedge fund industry grew by $102 billion during the first six months of 2011. That’s thanks in part to some sizable new fund launches, including a $5 billion launch from a brand-new firm, and the increasingly fast-paced growth of some spinouts.

Some 241 firms with $1 billion or more in assets managed $1.399 trillion combined as of July 1, according to AR’s latest biannual Billion