So if there were 6800 HF's around this time last year (in the world), how many of those are running $1B+ books? Thanks.
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I'd be interested to hear everyone's estimates on this as well... I'd guess it's a small number... like 10%... but no clue
http://www.lmgtfy.com/?q=hedge+funds+by+AUM
Things that make it tough to quantify: 1) Legal and functional definition of a Hedge Fund-varies across jurisdictions/asset classes (ie is a UCITS mutual fund a hedge fund?) 2) Blending of strategies across asset managers (Do you count GSO seperately from BX? What about GSO's CLO and loan CEF AUM, does that count as hedge fund AUM or not?) 3) Secrecy in the industry
As an estimate, I think 10% of 6880 or roughly 700 is probably on the high end but not massively so. On this list, the bottom-end of the top-100 is ~4bn, with a big drop-off from the top 10 to the top 50. http://hedgefundblogman.blogspot.com/2009/08/top-100-largest-hedge-fund…
Yea, I think the thing that really effects one's ability to estimate this is the secrecy and definition issues. Strictly defined HFs like Bridgewater, DE Shaw, etc. would be the exception to the rule IMO. That being said, you would really want to expand the scope to include AM firms since the function is a bit different. Is an AM firm with ~8b any worse than a HF with ~1B? Not in my opinion. The mystique of the hedge fund name really seems to be the driver for a lot of people rather than the actual functions of an organization. (That was directed at you or anyone else, OP, just a general comment)
I think total AUM for all hedge funds is just under $2T. With that said, if there are in fact roughly 7000 HFs, then I highly doubt 700 of them have AUM over 1B. I think 300 would be more realistic.
Nice manbearpig.
Thanks for all the input guys.
Y'all suck at research. Here's your answer: 217, as of July 1 2010 (up from 213 as of Jan 1 2010, so it seems relatively stable)
http://www.marketwire.com/press-release/Combined-Assets-Billion-Dollar-…
Good find, Drexel.
I still wonder, though, how they're accounting-for example, BlackRock's $28.3bn AUM includes a lot of ETFs and I imagine that the $41bn at JP isn't entirely HF assets (Highbridge is ~$18bn per the article). Angelo, Gordon's number includes CLOs, which I guess could go either way as to whether you count them.
That's a good point. I think, though, that as you get closer to the $1bn figure, it's less likely that a fund will have multiple strategies, so it's probably a pretty accurate count.
BlackRock has about $3.5 trillion total AUM, of which ETFs are over $1tr, so I doubt any ETFs are included within the $28bn figure. My guess is that's either the total AUM of their various hedge funds (one of the UK equities UCITS long-short funds alone is over £2bn AUM), or the total AUM of their alternatives division, which along with HFs has various RE funds and PE FOFs.
Good color and excellent point about BLK's total AUM.
The new tally comes out on Tuesday, Bridgewater is still number 1. The AUM figures are probably for alternative assets: http://www.iimagazinerankings.com/ii300/Ranking1.asp?ColShow=RnkInvest&…
[quote=GoodBread]The new tally comes out on Tuesday, Bridgewater is still number 1. The AUM figures are probably for alternative assets: http://www.iimagazinerankings.com/ii300/Ranking1.asp?ColShow=RnkInvest&…] Alternatives makes sense, but there's still a big difference between earning 50-75bps all-in on $2bn of CLOs and earning 2&20 on $2bn of of true HF assets
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