Hedge Fund Industry Winners
Hedge Fund Industry Winners in the RecessionIf HSBC AI is "the biggest loser" then there has to be some winners too. George Soros' hedge fund firm, JP Morgan Chase, Paulson & Co. and Bridgewater have emerged from the recession as the biggest winners according to rankings by AR.
Here are the 10 largest hedge fund firms by assets:
- Bridgewater Associates
- JP Morgan Chase Asset Management
- Paulson & Co.
- D.E. Shaw Group
- Soros Fund Management
- Goldman Sachs Asset Management
- Och-Ziff Capital Management
- Baupost Group
- Farallon Capital Management
- Angelo, Gordon & Co.; Avenue Capital Group; Renaissance Technologies
Another "winner" is John Paulson of Paulson & Co. He was able to create big returns by predicting the mortgage-backed securities, then by betting against financial institutions in the recession. Despite losses in assets under management, Paulson's fund is the 3rd largest hedge fund firm in terms of assets and his funds were up as much as 16.38% in the end of July.
The asset-management division of J.P. Morgan Chase also kept its position as 2nd largest hedge fund firm, increasing its assets 9.4% from the end of 2008 and falling just $1 billion behind Bridgewater. D.E. Shaw Group lost 6.6% of its assets from the end of last year and stayed in 4th place. Goldman Sachs' asset management arm moved up to 6th place managing $20.8 billion.
Och-Ziff Capital Management (OZM) was seventh in AR's rankings. The firm, run by Dan Och, lost 6.33% of assets in the first half of 2009, bringing its total to $20.7 billion, AR said.
Baupost Group, run by Seth Klarman, became the eighth-largest hedge fund firm, with assets of $19 billion, up 13% in the first half of 2009, AR said.
Farallon Capital Management, headed by Thomas Steyer, saw assets fall 10% to $18 billion in the first half of this year. That left the San Francisco-based firm ninth in AR's rankings.Angelo, Gordon & Co., Avenue Capital Group and Renaissance Technologies tied for tenth... Source
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