Connecticut Hedge Funds Managing over $1B in Assets
Following to Preqin data research, Connecticut, the third smallest state by area in the United States, has the third-most hedge funds managing more than $1 billion in assets, trailing only New York and London.
If
you add up all the assets managed by members of the so-called "Billion
Dollar Club," Connecticut leapfrogs London into second place.
The
rankings are part of the "2014 Preqin Global Hedge Fund Report" and are
previewed in the company's May "Hedge Fund Spotlight" newsletter.
"New
York, London and Connecticut are undoubtedly the centres of the
billion-dollar club," concluded Preqin, which has offices in London, New
York, Singapore and San Francisco.
Overall,
New York has 174 hedge fund managers who oversee more than $1 billion
in assets, the report said. London has 80 such managers, while
Connecticut has 35, California has 34 and Massachusetts has 29, rounding
out the top 5.
Collectively,
the 35 managers in Connecticut oversee $400 billion in assets, which is
only behind New York's $938 billion. Such managers in London oversee
$346 billion, while those in Massachusetts are responsible for $190
billion and those in California for $159 billion, the report stated.
Source: Danbury News Times