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.
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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