50 Global Top Hedge Funds (5)
15) Lone Pine Capital
The company is headquartered in Greenwich, Connecticut, USA, and was founded in 1997 with offices in London, New York and San Francisco. . The company has $23.4 billion under management.
The company provides services to pooled investment vehicles, pension and profit-sharing plans, and has invested in public equity markets around the world. The firm invests using a long-short strategy, using fundamental analysis and bottom-up stock selection to create portfolios.
16) The Baupost Group
Founded in 1982, the Boston-based company has $29.4 billion under management and employs about 42 people.
According to Bloomberg, the company has ranked fourth in net income since its inception. As a value investor, the company also places a strong emphasis on risk management. The company uses little to no leverage in its investments, except in the real estate market, where it doubles its leverage. In a lecture to MIT students, the company's CEO mentioned that investment research driven by emotions is risky and can lead to a very bad The investment results. In addition, the firm's performance has been strong, with an average annualized return of 19 per cent since inception.
In 2011, the firm opened a London office to invest in European markets in light of the increase in distressed debt sales in Europe due to the sovereign debt crisis, including commodity markets, distressed corporate debt transactions, and structured products.
17) Adage Capital Management, L.P..
The firm was founded in 2001 and is headquartered in Boston. The founders, Phil Gross and Robert Atchinson, both worked at Harvard Management. The team's managed funds outperformed the S&P 500 by an average of 4.5% per year during this period. Today, Harvard Management Company also has $1.8 billion under management and a small stake in Adage.
The firm's total management size is approximately $28 billion. It provides services to pooled investment vehicles. It invests primarily in U.S. equities and hedge markets. The company's fundamental analysis focuses on valuation methodologies within the industry.
Notably, the firm differs from the typical 2-20 fee charged by other hedge funds and has a 0.5 per cent management fee, which is higher than the average of a hedge fund. A 20% performance-based commission on S&P 500 earnings and the return of nearly half of the investor's fees in the event of a loss.
18）Elliott Management Corporation
Elliott was founded in 1977 and is headquartered in New York, with offices in London, Tokyo and Hong Kong. It has $27 billion under management. Since its inception, the company has brought investors an average annual net income of 14.6%, compared to the S&P 500's average annual growth of 10.9% and still three times the volatility of the company's managed funds.
The company is described as a vulture fund (those funds that seek high profits by acquiring defaulted bonds and litigating them in bad faith, usually) (It likes to buy bonds of companies that are in trouble, and when the company can't pay them, it starts filing lawsuits for huge compensation. In the early days, the company focused on convertible arbitrage. After surviving the 1987 stock market crash and the recession of the 1990s, the company transitioned into a multi-strategy hedge fund.
One of the firm's distinctive features was its high yield and low volatility. It is also known for its restructuring of some of the leading U.S. and global companies such as TWA, MCI, etc. In 2015, the Alpha Magazine gave the firm an A rating and a ranking of ninth in the hedge fund industry worldwide.
19) Davidson Kempner Capital Management
Founded in 1983, the company is headquartered in New York, with international offices in London and Hong Kong. It has $25.4 billion under management and 259 employees.
The firm's investment strategy uses a fundamental analysis, bottom-up approach. In general, the firm focuses on four strategies: merger arbitrage, distressed, long-short and convertible bond arbitrage, with a strong focus on distressed Investment and merger arbitrage are particularly emphasized.
The company was opened to outside capital in 1987 and registered as an SEC investment advisor in 1990.
(20) Brevan Howard
Founded in 2002, the firm is based in Jersey, Europe and has $40 billion under management. It is known as one of the largest macro hedge funds in the world.
The firm was founded by five fixed income traders from Credit Suisse and also received $2 billion in macro funds from Credit Suisse Private Bank to manage. Even during the 2008 financial crisis, the firm's macro fund performed very well and in 2013 it was reported to be one of the largest macro funds under management. Largest European hedge fund, also described by the Financial News as "Europe's largest and best performing hedge fund".
As a macro hedge fund, the firm seeks to profit from economic trends and trade a wide range of assets, including commodities and currencies. According to the founders, the firm's overall strategy is to focus on "short-term opportunities" and to build investments that last one to six months.
In addition, the firm was ranked among the top three ideal hedge fund employers by eFinancialCareer 2016. The firm is also known for its hiring of successful investment banking traders and highly capable college graduates.
