US-based multi-strategy managers dominate a new ranking of 64 investment firms managing $10 billion or more in hedge fund assets.
Four of the top ten firms on the inaugural ‘$10bn+ Power List’ from Alternative Fund Insight (AFI) specialise in multi-strategy hedge fund vehicles, including Miami-headquartered Citadel and New York-based Millennium Management.
Collectively, the wider group of 64 firms manages $1.75 trillion, around 44% of the hedge fund industry’s $4 trillion total AUM.
The AFI ranking, based on reporting and publicly available data and as of the start of 2023, is topped by Westport, Connecticut-based Bridgewater Associates – retaining its long-held position as the hedge fund industry’s largest manager.
Man Group, in second place, is Europe’s top-ranked hedge fund manager – the only firm outside the US to make the top ten.