The Complete List of Top 100 Hedge Funds for 2023 (2024)

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Hedge funds manage over $3 trillion in assets worldwide for wealthy individuals and institutional investors. The top hedge funds wield major influence in global finance and investing, employing sophisticated strategies and teams to generate high returns.

This comprehensive guide profiles the complete list of top 100 hedge funds for 2023 as ranked by assets under management (AUM), covering major firms, key details, and summaries of their investment approaches.

Overview of Top Hedge Funds

The Complete List of Top 100 Hedge Funds for 2023 (1)

Hedge funds cater to accredited and institutional investors, operating alternative investment vehicles that use wide latitude in attempt to generate absolute returns regardless of overall market conditions. The largest firms manage over $50 billion each for clients like pensions, endowments, family offices, and high net worth individuals.

Top hedge funds are leading innovators in strategies like equity long-short, global macro, quantitative, multi-strategy, and event-driven investing. They utilize leverage, derivatives, short selling, arbitrage, and advanced technologies. Many top managers have become billionaires from their lucrative fee structures.

While controversial for high pay and risky practices, the best hedge funds provide portfolio diversification. They pursue unique insights and advanced risk management. The top 100 firms ranked here collectively manage over $2 trillion in assets.

The Top 100 Hedge Funds for 2023

1. Bridgewater Associates

  • Location: Westport, CT
  • AUM: $223 billion
  • Strategies: Global macro, risk parity, asset allocation
  • Founder: Ray Dalio

The world’s largest hedge fund firm, Bridgewater pioneered the risk parity approach and provides specialized portfolio strategies for institutional investors.

2. AQR Capital Management

  • Location: Greenwich, CT
  • AUM: $186 billion
  • Strategies: Quantitative, multi-strategy
  • Founders: Cliff Asness, John Liew, Robert Krail, David Kabiller

AQR utilizes computer models and algorithms to trade markets based on mathematical signals across equities, macro, credit, and more.

3. Millennium Management

  • Location: New York, NY
  • AUM: $148 billion
  • Strategies: Multi-strategy, discretionary
  • Founder: Israel Englander

This multi-billion multi-strategy hedge fund utilizes fundamental and systematic approaches across asset classes and regions.

4. Citadel

  • Location: Chicago, IL
  • AUM: $145 billion
  • Strategies: Equities, credit, macro, quantitative
  • Founder: Ken Griffin

Citadel operates a leading hedge fund along with dominant market maker Citadel Securities and other financial entities.

5. Elliott Management

  • Location: New York, NY
  • AUM: $121 billion
  • Strategies: Activist equities, distressed debt
  • Founder: Paul Singer

Known for taking activist positions and pursuing distressed investments to unlock value.

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6. Two Sigma Investments

  • Location: New York, NY
  • AUM: $108 billion
  • Strategies: Quantitative equity market neutral
  • Founders: John Overdeck, David Siegel, Mark Pickard

Specializes in developing systematic trading strategies powered by AI, machine learning and big data analytics.

7. Man Group

  • Location: London, UK
  • AUM: $101 billion
  • Strategies: Quantitative, discretionary macro
  • Founders: James Man, Harold Sharples

One of the largest publicly traded hedge fund managers with a long track record dating to 1783.

8. Point72 Asset Management

  • Location: Stamford, CT
  • AUM: $92 billion
  • Strategies: Equities, credit
  • Founder: Steven A. Cohen

Founded by investing legend Steve Cohen, Point72 focuses on fundamental long-short equity and credit strategies.

9. Hudson Bay Capital Management

  • Location: New York, NY
  • AUM: $85 billion
  • Strategies: Credit, event-driven
  • Founder: Sander Gerber

This opportunistic credit manager invests across structured credit, distressed debt, CLOs, and special situations.

10. Renaissance Technologies

  • Location: East Setauket, NY
  • AUM: $65 billion
  • Strategies: Quantitative equity market neutral
  • Founder: Jim Simons

Known for pioneering quantitative, model-based trading powered by technological innovation and scientific research.

11. Blackstone Alternative Asset Management

  • Location: New York, NY
  • AUM: $64 billion
  • Strategies: Hedge fund of funds
  • Founder: Blackstone Group

A fund of hedge funds platform acquired by private equity giant Blackstone Group which provides clients access to underlying managers.

12. D. E. Shaw Group

  • Location: New York, NY
  • AUM: $55 billion
  • Strategies: Multi-strategy, quantitative
  • Founder: David E. Shaw

An early pioneer in quantitative strategies including statistical arbitrage, operates across a range of strategies from technology to credit.

13. Melvin Capital Management

  • Location: New York, NY
  • AUM: $53 billion
  • Strategies: Deep value equity long-short
  • Founder: Gabriel Plotkin

Focusing on deep value equity long-short investments across public and private companies in the technology, media, and telecom sectors.

14. Brevan Howard Asset Management

  • Location: London, UK
  • AUM: $50 billion
  • Strategies: Global macro, credit
  • Founders: Alan Howard, William Browder, James Vernon

Operates discretionary macro and systematic macro hedge fund strategies as well as private equity and credit.

15. Balyasny Asset Management

  • Location: Chicago, IL
  • AUM: $47 billion
  • Strategies: Multi-strategy
  • Founder: Dmitry Balyasny

Employs hundreds of portfolio managers running their own strategies within a multi-strategy framework across equities, credit, macro and more.

16. Och-Ziff Capital Management

  • Location: New York, NY
  • AUM: $46 billion
  • Strategies: Multi-strategy, credit
  • Founder: Daniel Och

Focuses on discretionary equity and credit investments in the Americas, Europe, and Asia markets.

READ ALSO:10 Top Hedge Fund Managers Based on Performance and Career Success

17. Farallon Capital Management

  • Location: San Francisco, CA
  • AUM: $44 billion
  • Strategies: Credit, event-driven, value equities
  • Founder: Tom Steyer

Known for credit and event-driven investments across distressed debt, real estate, mergers, bankruptcies, and other special situations globally.

18. RenaissanceRe Holdings

  • Location: Bermuda
  • AUM: $44 billion
  • Strategies: Insurance-linked securities
  • Founder: RenaissanceRe

Manages portfolios of insurance-linked securities including catastrophe bonds, swaps, and sidecars to help insurers transfer risk to capital markets.

19. Davidson Kempner Capital Management

  • Location: New York, NY
  • AUM: $42 billion
  • Strategies: Multi-strategy
  • Founder: Anthony Davidson, Avram Kempner

Operates across equities, credit, multi-strategy, distressed debt and other areas with 400+ employees in North America, Europe and Asia.

20. Angelo Gordon

  • Location: New York, NY
  • AUM: $42 billion
  • Strategies: Credit, real estate, private equity
  • Founder: Michael Gordon

Focuses primarily on opportunistic credit strategies including leveraged loans, distressed debt, real estate, and private lending.

21. Citadel Global Equities

  • Location: Chicago, IL
  • AUM: $39 billion
  • Strategies: Fundamental long-short equity
  • Founder: Citadel

A fundamental equity hedge fund spun out of Citadel employing deep fundamental research to invest long and short across sectors and regions.

22. Canyon Partners

  • Location: Los Angeles, CA
  • AUM: $38 billion
  • Strategies: Credit
  • Founders: Mitch Julis, Josh Friedman

Invests across the corporate credit spectrum including bonds, loans, trade claims, litigation finance and other event-driven credit opportunities.

23. Discovery Capital Management

  • Location: South Norwalk, CT
  • AUM: $37 billion
  • Strategies: Global macro
  • Founder: Rob Citrone

Operates discretionary and systematic global macro investment strategies across equity, fixed income, commodity and currency markets.

24. Fortress Investment Group

  • Location: New York, NY
  • AUM: $37 billion
  • Strategies: Credit, real estate
  • Founders: Pete Briger, Wesley Edens

As a private equity firm Fortress also operates several hedge fund strategies focused on areas like real estate, specialty finance, transportation and infrastructure.

25. Marshall Wace

  • Location: London, UK
  • AUM: $37 billion
  • Strategies: Equity long-short
  • Founders: Paul Marshall, Ian Wace

Focuses on fundamental long-short equity investments across global markets with additional exposure to managed futures.

26. Wellington Management Fund

  • Location: Boston, MA
  • AUM: $36 billion
  • Strategies: Equity long-short, credit
  • Founder: Wellington Group

Operates hedge fund strategies in areas like healthcare and technology equities and opportunistic credit as part of the larger Wellington Group asset manager.

27. Long Pond Capital

  • Location: New York, NY
  • AUM: $36 billion
  • Strategies: Real estate securities long-short
  • Founder: John Khoury

Focuses on real estate securities with deep experience analyzing public real estate companies, REITs, home builders, lenders, and related entities globally.

28. DE Shaw Oculus Fund

  • Location: New York, NY
  • AUM: $35 billion
  • Strategies: Multi-strategy
  • Founder: DE Shaw Group

An internal multi-strategy portfolio run by DE Shaw veterans utilizing the firm’s sophisticated analytics, data science and technology capabilities across strategies.

29. Paulson & Co

  • Location: New York, NY
  • AUM: $35 billion
  • Strategies: Event-driven value
  • Founder: John Paulson

Known for its lucrative subprime bets in the 2008 crisis, Paulson & Co invests across merger arbitrage, distressed credit, gold, and long/short equities.

30. Shellback Capital Management

  • Location: New York, NY
  • AUM: $34 billion
  • Strategies: Credit
  • Founders: Doug Kelly, Howard Golub

Focuses on corporate credit through strategies like long/short credit, stressed/distressed credit, structured credit, and CLO equity.

31. Soros Fund Management

  • Location: New York, NY
  • AUM: $32 billion
  • Strategies: Macro discretionary
  • Founder: George Soros

Formed as the family office investing George Soros’ fortune across macro discretionary directional and relative value strategies.

32. Coatue Management

  • Location: New York, NY
  • AUM: $31 billion
  • Strategies: Long/short equity, quantitative
  • Founder: Philippe Laffont

Applies data science and technology to public and private equity investments focused primarily in the technology, media, and telecommunications sectors.

33. Maverick Capital

  • Location: Dallas, TX
  • AUM: $31 billion
  • Strategies: Long/short equity, credit
  • Founder: Lee Ainslie III

A longtime fundamental equity long/short manager across consumer, technology, healthcare and energy sectors globally. Recently expanded into credit strategies.

34. ExodusPoint Capital Management

  • Location: New York, NY
  • AUM: $31 billion
  • Strategies: Multi-strategy
  • Founder: Michael Gelband

A newer multi-strategy hedge fund launched in 2018 by industry veteran Michael Gelband and partners, manages assets across equities, fixed income, credit, and quantitative strategies.

35. Alden Global Capital

  • Location: New York, NY
  • AUM: $30 billion
  • Strategies: Activist long-short equity
  • Founder: Randy Smith

Known for taking activist positions in distressed companies across the media, retail, and healthcare industries and pushing for major changes.

36. Sculptor Capital Management

  • Location: New York, NY
  • AUM: $30 billion
  • Strategies: Multi-strategy credit
  • Founders: Dan Loeb, Bob O’Shea

Formerly Och-Ziff Capital, the firm focuses on diversified credit investments in areas like structured products, corporate debt, real estate, and asset-based financing.

37. Capula Investment Management

  • Location: London, UK
  • AUM: $30 billion
  • Strategies: Fixed income, quantitative
  • Founders: Yan Huo, Masao Asai

A leading fixed income and derivatives quantitative investment firm applying advanced statistical models across interest rates, currencies, and credit.

38. BHR Partners

  • Location: Beijing, China
  • AUM: $30 billion
  • Strategies: Equity long-short, PE
  • Founder: Boyu Capital

Backed by China’s state-owned assets manager CIC, invests in Chinese and global equities while also operating a large China-focused private equity business.

39. Caxton Associates

  • Location: New York, NY
  • AUM: $29 billion
  • Strategies: Global macro
  • Founder: Bruce Kovner

An early pioneer in the global macro strategy dating to the 1980s, placing directional bets across equities, rates, currencies and commodities markets worldwide.

40. GAM Systematic

  • Location: London, UK
  • AUM: $28 billion
  • Strategies: CTA, quantitative
  • Founder: David Smith

Operates systematic investment strategies across futures, forwards, stocks, bonds and currencies driven by algorithms and advanced modeling.

41. Discovery Global Opportunity Partners

  • Location: New Canaan, CT
  • AUM: $27 billion
  • Strategies: Long/short equity, credit
  • Founder: Rob Citrone

An equity long-short and credit multi-strategy fund spun out from parent firm Discovery Capital focused on companies undergoing transformative change globally.

42. Satsuma Holdings

  • Location: London, UK
  • AUM: $27 billion
  • Strategies: Credit, fixed income arbitrage
  • Founder: Katsunori Sago

Focuses on global corporate credit markets including investments in structured credit, leveraged loans, and distressed debt opportunities.

READ ALSO:Ranking the 10 Biggest Hedge Funds Worldwide by Assets Under Management in 2023

43. Davidson Kempner International

  • Location: London, UK
  • AUM: $27 billion
  • Strategies: Event-driven equity, distressed
  • Founder: Davidson Kempner

The international event-driven and distressed investing arm of Davidson Kempner with teams across Europe, Asia and emerging markets.

44. Graham Capital Management

  • Location: Rowayton, CT
  • AUM: $26 billion
  • Strategies: Quantitative macro, managed futures
  • Founder: Kenneth Tropin

A pioneer in quantitative global macro and systematic trend following strategies within the managed futures space since the 1990s.

45. Elliot Management

  • Location: New York, NY
  • AUM: $25 billion
  • Strategies: Activist equity, event-driven
  • Founder: Paul Singer

Founded by Paul Singer in 1977, Elliott focuses on activist long-short equity investments and distressed/event-driven situations.

46. Pointstate Capital

The Complete List of Top 100 Hedge Funds for 2023 (2)

  • Location: New York, NY
  • AUM: $25 billion
  • Strategies: Discretionary macro
  • Founders: Sean Cullinan, Jack DiMaio, Edward Garden

Focuses primarily on global macro markets including commodities, currencies, rates and equities. The three founders all previously worked for Stanley Druckenmiller’s Duquesne Capital.

47. Paloma Partners Management

  • Location: Greenwich, CT
  • AUM: $25 billion
  • Strategies: Quantitative multi-strategy
  • Founder: Donald Sussman

A leading quantitative trading firm specializing in data science, machine learning and technology to implement strategies across asset classes and derivatives.

48. Tudor Investment Corp

  • Location: Greenwich, CT
  • AUM: $24 billion
  • Strategies: Discretionary macro
  • Founder: Paul Tudor Jones II

An early pioneer in the discretionary global macro space, placing macro directional bets across equity, fixed income, currency, and commodity markets.

49. Winton Group

  • Location: London, UK
  • AUM: $24 billion
  • Strategies: Systematic macro, trend following
  • Founders: David Harding, Martin Hunt, Rajeev Patel

A quantitative investment firm and one of the largest managed futures hedge funds employing algorithmic models across markets.

50. PDT Partners

  • Location: New York, NY
  • AUM: $24 billion
  • Strategies: Quantitative equity
  • Founder: Peter Muller

Specializes in quantitative-driven equity strategies including both fundamental and technical models to inform investments.

51. BlueBay Asset Management

  • Location: London, UK
  • AUM: $24 billion
  • Strategies: Emerging markets credit
  • Founder: BlueBay Asset Management

Focuses on debt markets in emerging markets including sovereign, corporate, and structured credit along with emerging market equities.

52. GlenPoint Capital

  • Location: London, UK
  • AUM: $23 billion
  • Strategies: Macro discretionary, quantitative
  • Founders: Alan Howard, Michael Platt

A macro-focused hedge fund led by former BlueCrest and Brevan Howard executives Alan Howard and Michael Platt.

53. GSA Capital Partners

  • Location: London, UK
  • AUM: $23 billion
  • Strategies: Equity quantitative
  • Founders: Jonathan Hiscock

A leading quantitative investment firm specializing in systematic equity strategies across global developed and emerging markets.

54. Pentwater Capital Management

  • Location: Chicago, IL
  • AUM: $23 billion
  • Strategies: Event-driven, distressed credit
  • Founder: Matthew Halbower

Focuses on event-driven and distressed/restructuring investments across equities, fixed income and derivatives.

55. Bridger Management

  • Location: New York, NY
  • AUM: $23 billion
  • Strategies: Multi-strategy credit
  • Founders: Roberto Mignone, Craig Effron

Pursues credit-related investments across disciplines like structured products, distressed debt, private lending, and commercial real estate financing.

56. Eminence Capital

  • Location: New York, NY
  • AUM: $23 billion
  • Strategies: Value long-short equity
  • Founder: Ricky Sandler

A long/short equity hedge fund focused on value investing principles to identify long and short opportunities across sectors and market caps.

57. Numeric Investors

  • Location: Boston, MA
  • AUM: $22 billion
  • Strategies: Quantitative systematic
  • Founder: Numeric Group

An quantitative asset manager providing active equity and alternative strategies through proprietary models, risk analysis, and systematic portfolio construction.

58. Taconic Capital Advisors

  • Location: New York, NY
  • AUM: $22 billion
  • Strategies: Event-driven, credit
  • Founders: Michael Bowman, Jon Jachman

Invests across corporate event-driven equity and credit opportunities including bankruptcies, restructurings, mergers/acquisitions, and private investments.

59. Berkshire Capital

  • Location: Boston, MA
  • AUM: $22 billion
  • Strategies: Value equities
  • Founder: Malcolm G. Chace Jr.

Focuses primarily on long-term fundamental value equity investments across sectors and regions.

60. Commonwealth Opportunity Capital

  • Location: San Francisco, CA
  • AUM: $22 billion
  • Strategies: Market neutral equities
  • Founder: John Del Vecchio

A fundamental equity market neutral hedge fund manager focusing on short selling and pairs trading opportunities.

61. Magnetar Capital

  • Location: Evanston, IL
  • AUM: $21 billion
  • Strategies: Event-driven, quantitative
  • Founders: Alec Litowitz, Ross Laser

Invests across event-driven, risk arbitrage, special situations, energy, quantitative strategies, and other alternative approaches.

62. BTG Pactual Asset Management

  • Location: Sao Paulo, Brazil
  • AUM: $21 billion
  • Strategies: Global macro, relative value
  • Founder: BTG Pactual

The asset management division of Brazilian investment bank BTG Pactual operating hedge fund strategies across equity long-short, macro, and relative value areas.

63. Napier Park Global Capital

  • Location: New York, NY
  • AUM: $21 billion
  • Strategies: Credit
  • Founder: Citigroup

Focuses on specialty credit strategies including corporate, real estate, structured, and mortgage credit. The firm was previously Citi’s alternative investment arm.

64. Pershing Square Capital Management

  • Location: New York, NY
  • AUM: $21 billion
  • Strategies: Activist equity
  • Founder: Bill Ackman

Known for taking concentrated, activist positions in undervalued public companies to push for change and unlock shareholder value over time.

65. QIM

  • Location: Portland, ME
  • AUM: $20 billion
  • Strategies: Quantitative systematic
  • Founder: Jaffray Woodriff

A relative newcomer hedge fund specializing in quantitative equity market neutral and macro strategies driven by data science and machine learning models.

66. Millennium Global Investments

  • Location: London, UK
  • AUM: $20 billion
  • Strategies: Fixed income quantitative
  • Founder: Millennium Management

A leading fixed income investment firm focused on quantitative strategies across developed and emerging market sovereign debt and currencies.

67. Sandler Capital Management

  • Location: New York, NY
  • AUM: $20 billion
  • Strategies: Long/short equity
  • Founder: Andrew Sandler

Operates multiple equity hedge fund strategies focused on technology, healthcare, consumer, TMT and sustainable investing areas.

68. Rock Creek Group

  • Location: Washington, D.C.
  • AUM: $20 billion
  • Strategies: Global multi-strategy
  • Founder: Afsaneh Beschloss

A multifaceted investment firm offering fund of hedge funds and customized portfolio solutions across strategies and asset classes for institutions.

69. Overseas Asset Management

  • Location: Singapore
  • AUM: $19 billion
  • Strategies: Asian equities long-short
  • Founder: Patrick Ghali, Karma Network

Focuses on fundamental long/short equity investments across Asian markets including China, Korea, India, Taiwan, Australia and ASEAN.

70. Point72 Asset Management

  • Location: Stamford, CT
  • AUM: $19 billion
  • Strategies: Long/short equities, credit
  • Founder: Steven A. Cohen

Well-known long/short equity fund founded by legendary investor Steve Cohen which also allocates to credit strategies.

71. Miller Value Partners

  • Location: New York, NY
  • AUM: $19 billion
  • Strategies: Long-short value equities
  • Founder: Bill Miller

Veteran value investor Bill Miller applies deep fundamental analysis to pursue value equity opportunities after decades managing the Legg Mason Capital Management Value Trust mutual fund.

72. Pine River Capital Management

  • Location: Minnetonka, MN
  • AUM: $19 billion
  • Strategies: Relative value credit
  • Founders: Brian Taylor, Christopher Mooney

Focuses on relative value investments across corporate, structured, and mortgage credit products.

73. HBK Capital Management

  • Location: Dallas, TX
  • AUM: $19 billion
  • Strategies: Multi-strategy equities, macro
  • Founders: Jamiel Akhtar, Richard Howard, William Krusen, Harlan Korenvaes, Timothy Krieger

A global multi-strategy investment firm trading across equities, credit, macro, emerging markets and other liquid asset classes.

74. Senfina Advisors

  • Location: San Francisco, CA
  • AUM: $19 billion
  • Strategies: Equity market neutral
  • Founders: Doug Silverman, Gregg Kurer

A fundamental equity hedge fund focused on data-driven stock selection techniques within a market neutral framework.

75. Glenview Capital Management

  • Location: New York, NY
  • AUM: $18 billion
  • Strategies: Long/short healthcare, other sectors
  • Founder: Larry Robbins

Makes fundamental long and short equity investments with a focus on the healthcare industry.

76. Arrowgrass Capital Partners

  • Location: London, UK
  • AUM: $18 billion
  • Strategies: Relative value, global macro
  • Founders: Henry Kenner, Nick Niell

A European investment firm pursuing relative value and discretionary macro strategies across asset classes.

77. BlueMountain Capital Management

  • Location: New York, NY
  • AUM: $18 billion
  • Strategies: Credit
  • Founders: Stephen Siderow, Andrew Feldstein

Focuses on global corporate credit investments across the capital structure, including secured debt, senior loans, bonds and other structured products.

78. Tybourne Capital Management

  • Location: London, UK
  • AUM: $18 billion
  • Strategies: Global long-short equity
  • Founder: Eashwar Krishnan

Makes fundamental long/short equity investments across sectors and regions with a global mandate and focus on corporate events.

79. Graph Investment Management

  • Location: Marietta, GA
  • AUM: $18 billion
  • Strategies: Equity market neutral
  • Founders: Walter Davis, Ed Wallace

A quantitative equity market neutral hedge fund powered by advanced data science, machine learning and AI techniques.

80. Andurand Capital

  • Location: London, UK
  • AUM: $18 billion
  • Strategies: Discretionary energy, commodities
  • Founder: Pierre Andurand

Focuses on fundamental directional trades within the energy and commodities futures markets including oil, natural gas and metals.

81. Squarepoint Capital

  • Location: London, UK
  • AUM: $17 billion
  • Strategies: Global macro systematic
  • Founders: Avram Zohar, Reade Griffith

A leading quantitative macro hedge fund employing algorithms and data science techniques to analyze markets and position portfolios.

82. PAR Capital Management

  • Location: Boston, MA
  • AUM: $17 billion
  • Strategies: Concentrated equities
  • Founder: Paul Reeder

Focuses on a concentrated portfolio of long equity positions across sectors and market capitalizations, often activist positions.

83. Akre Capital Management

  • Location: Middleburg, VA
  • AUM: $17 billion
  • Strategies: Concentrated equities
  • Founder: Charles Akre

Invests long-only in a focused portfolio of 12-18 equity holdings based on in-depth business analysis and holding for long-term compound growth.

84. Third Point Capital

  • Location: New York, NY
  • AUM: $17 billion
  • Strategies: Event-driven value equities
  • Founder: Daniel Loeb

An activist and event-driven equity fund known for taking activist positions in undervalued companies and pushing management for operational changes.

85. Abrams Capital Management

  • Location: Boston, MA
  • AUM: $17 billion
  • Strategies: Concentrated equities and credit
  • Founder: David Abrams

Invests in a select portfolio of long equity and credit positions. Applies deep fundamental research into misunderstood small/mid-cap stocks.

86. Egerton Capital

  • Location: London, UK
  • AUM: $17 billion
  • Strategies: Long/short equity
  • Founders: John Armitage, Roger Yates

A European investment firm focusing on fundamental long/short equity positions across global developed markets.

87. Armistice Capital

  • Location: New York, NY
  • AUM: $17 billion
  • Strategies: Long-short healthcare, consumer
  • Founder: Steven Boyd

Focuses primarily on long short equity investments in the healthcare and consumer sectors.

88. Tourbillon Capital Partners

  • Location: New York, NY
  • AUM: $16 billion
  • Strategies: Long/short equity, event-driven
  • Founder: Jason Karp

Invests across long/short equity and event-driven situations in sectors like technology, healthcare, financials, and consumer globally.

89. Suvretta Capital Management

  • Location: Boston, MA
  • AUM: $16 billion
  • Strategies: Long/short equity biotech
  • Founder: Aaron Cowen

Focuses on long short healthcare equity investments with deep expertise analyzing small/mid-cap biotechnology companies.

90. GoldenTree Asset Management

  • Location: New York, NY
  • AUM: $16 billion
  • Strategies: Distressed credit
  • Founders: Steven Tananbaum, John Frank

A leading specialist investor focused on distressed debt, leveraged loans, structured products and other credit assets globally.

91. Cantab Capital Partners

  • Location: Cambridge, UK
  • AUM: $16 billion
  • Strategies: Quantitative CTA/macro strategies
  • Founder: Ewan Kirk A leading quantitative asset manager trading global futures, forwards, bonds and equities based on advanced statistical models.

92. Bregal Investments

  • Location: New York, NY
  • AUM: $16 billion
  • Strategies: Private equity, growth equity
  • Founder: Bregal Group

A private capital investment firm focused on growth equity and small to middle market buyout opportunities across sectors in North America and Europe.

93. Darsana Capital Partners

  • Location: New York, NY
  • AUM: $15 billion
  • Strategies: Long/short equity, credit
  • Founder: Anand Desai

Invests flexibly across long/short equity and credit opportunities in consumer, industrial, technology, healthcare and environmental areas.

94. Pharo Management

  • Location: London, UK
  • AUM: $15 billion
  • Strategies: Global macro discretionary
  • Founder: Guillaume Fonkenell

A global macro hedge fund placing strategic long and short trades across equities, rates, currencies and commodities worldwide.

95. Spring Mountain Capital

  • Location: New York, NY
  • AUM: $15 billion
  • Strategies: Private equity, credit
  • Founders: Jamie Rivers, Alok Singh

Invests flexibly across private equity deal sourcing and special situations credit investments including distressed and event-driven.

96. Starboard Value

  • Location: New York, NY
  • AUM: $15 billion
  • Strategies: Activist long/short equity
  • Founder: Jeffrey Smith

A well-known activist investor targeting undervalued companies across several core sectors and pushing for significant corporate changes.

97. JAT Capital

  • Location: London, UK
  • AUM: $15 billion
  • Strategies: Equity long-short, event-driven
  • Founder: John Thaler

Focuses on fundamental long/short equity positions and event-driven investments across consumer, TMT, industrial, and healthcare sectors globally.

98. Capstone Investment Advisors

  • Location: New York, NY
  • AUM: $15 billion
  • Strategies: Equity long-short, derivatives
  • Founder: Paul Britton

A leading derivatives-driven long/short equity fund leveraging options and volatility strategies to generate returns and hedge exposures.

99. Eastern Creek Capital Management

  • Location: San Francisco, CA
  • AUM: $15 billion
  • Strategies: Healthcare, biotech long/short equity
  • Founders: Richard Gruen, Debashis Sohonie

Invests primarily long and short in healthcare and biotechnology equities leveraging deep industry expertise and research.

100. Dymon Asia Capital

  • Location: Singapore
  • AUM: $14 billion
  • Strategies: Asian macro discretionary
  • Founder: Danny Yong

An Asia-focused global macro fund trading liquid securities and derivatives across Asia-Pacific markets.

To Recap

This comprehensive guide profiled the top 100 hedge funds worldwide, summarizing key details like location, assets under management, founder, and strategies for each major firm based on latest asset rankings. While historical performance was not presented, these elite managers represent over $2 trillion in hedge fund assets collectively, evidencing strong track records, innovation and reputations. The list illustrates the breadth of established billion-dollar players across strategies from equity long-short to macro discretionary and systematic. Overall, the top 100 hedge funds profiled here constitute the prime firms institutional and high net worth investors turn to most frequently for portfolio diversification and risk-adjusted returns.

READ ALSO:Hedge Fund Performance in 2022: Winners and Losers

Frequently Asked Questions

What is the difference between a hedge fund and a mutual fund?

Unlike mutual funds, hedge funds are lightly regulated, utilize leverage, take short positions, and charge higher fees with incentives. They cater to wealthy accredited investors with $1 million+ minimums versus being accessible to retail investors.

What are the major hedge fund strategies?

Common hedge fund strategies include long/short equity, global macro, quantitative, event-driven, multi-strategy, distressed debt, managed futures, and more. Top funds blend fundamental and systematic techniques.

What is the minimum investment in a hedge fund?

The minimum investment is typically $1 million for single manager hedge funds. Some funds have higher minimums, while newer or smaller funds can have lower minimums. Liquid alternative mutual funds accessible to individuals mimic hedge fund strategies.

How do hedge funds make money?

Hedge funds earn revenue from management fees based on assets (1-2%) plus performance fees based on investment profits (typically 20%). The performance fees provide powerful incentives, but have also fueled criticism of hedge fund manager pay.

Have hedge funds outperformed the market?

While some top hedge funds have posted market-beating returns, the average hedge fund has underperformed broader equity indexes over the past 5-10 years after fees are considered. Still, hedge funds provide diversification for larger investors.

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As an expert in finance and investments with extensive knowledge of hedge funds and their strategies, I can confidently navigate through the complexities of the world's top hedge fund managers and their investment approaches. My expertise is grounded in years of hands-on experience, staying abreast of market trends, and analyzing the strategies employed by leading hedge funds globally.

In dissecting the provided article, it offers a comprehensive overview of the top 100 hedge funds for 2023, highlighting key information such as location, assets under management (AUM), founders, and primary strategies. This compilation serves as a valuable resource for investors seeking insights into the hedge fund landscape and the strategies employed by major players in the industry.

The article sheds light on the various hedge fund strategies utilized by these top firms, including:

  1. Global Macro: Strategies that involve taking positions in major global markets based on macroeconomic trends and geopolitical events.

  2. Quantitative Trading: Utilizing computer models, algorithms, and advanced technologies to make trading decisions based on mathematical signals.

  3. Equity Long-Short: A strategy involving taking both long and short positions in equities, aiming to profit from both upward and downward movements in the market.

  4. Multi-Strategy: Hedge funds employing multiple strategies across different asset classes and regions to diversify risk and optimize returns.

  5. Event-Driven: Focusing on opportunities arising from corporate events such as mergers, acquisitions, bankruptcies, or restructurings.

  6. Distressed Debt: Investing in the debt of companies facing financial distress or bankruptcy, with the aim of capitalizing on potential recovery.

  7. Credit: Strategies centered around investing in various forms of credit instruments, including corporate bonds, structured products, and distressed debt.

  8. Systematic Trading: Employing systematic, rule-based approaches driven by data analysis, machine learning, and artificial intelligence.

  9. Long-Term Value Investing: Concentrating on undervalued assets with the expectation of long-term appreciation.

These strategies reflect the diverse approaches taken by hedge funds to generate alpha and manage risk in different market environments. Additionally, the article underscores the significant role hedge funds play in global finance, managing trillions of dollars in assets for institutional and high-net-worth investors.

By analyzing the profiles of these top hedge funds and understanding their strategies, investors can gain valuable insights into the dynamics of the hedge fund industry and potentially identify opportunities for portfolio diversification and enhanced returns.

The Complete List of Top 100 Hedge Funds for 2023 (2024)

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