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I work in risk arb. There is about $100bn in total AUM running risk arb across 100 shops/pods in the US + 20 or so shops in Western Europe. There are about 50 sell-side shops with risk arb coverage in the US, not sure about Europe. 

Funds really don't disclose there performance but in the States big boys include

- MLP / Citadel / Balyasny / DE Shaw pods - MLP alone runs 10+ risk arb pods across US and Europe. not sure about the other ones

- Pentwater

- TIG 

- Davidson Kempner

- Bardin Hill

- A bunch of others that I'll probably remember at another time

I spoke with the Paulson and PSAM head PMs a few months ago. Paulson at least don't really do risk arb anymore. John is older now and likes to focus on catalytic eventy names with big upside.

 

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