Monday, September 17, 2012

Asset gap widens as funds of funds tumble




From PIOnline: The gap between the growing assets managed by large hedge fund managers and the dire declines of many hedge funds-of-funds firms widened into a chasm over the past year.
Aggregate assets of the 25 largest single and multistrategy hedge fund firms in Pensions & Investments' 2012 annual ranking grew 3.6% to $617.5 billion in the year ended June 30 from $596.1 billion a year earlier.  

P&I's 2012 class of the largest hedge fund firms welcomed four new entrants, and a year-to-year comparison of the full universe showed much higher aggregate growth of 14.2% for the year ended June 30. The four firms are Davidson Kempner Capital Management LLC, with $19.5 billion under management; Lone Pine Capital LLC, $19.2 billion; Millennium Management LLC, $15.7 billion; and Viking Global Investors LP, $15.6 billion. Of these, Davidson Kempner and Lone Pine are new to P&I's full hedge fund universe…..

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