Assets of Top 200 New York Metro Area Hedge Funds up more than 6% in latest HedgeTracker list
|January 11th, 2014||
|The top NYC hedge funds increased assets by more than $42 billion over the last quarter and now oversee greater than $715 billion, according to the latest Top 200 New York Hedge Fund list from HedgeTracker. Impressively, 41 of the top 50 funds saw their assets grow during the third quarter, amounting to an average gain of more than $860 million.|
Twelve hedge funds on the list saw their equity assets jump by more than $1 billion over the last quarter. Leading the top gainers are Icahn Associates (+$3.1B), Renaissance Technologies Corporation (+$3.1B), and D.E. Shaw & Co. (+$2.8B).
The Top 200 New York Hedge Fund list welcomes twelve new hedge funds to the list. Apollo Capital Management (#91) was the only new entrant that succeeded in breaking into the top 100, reporting equity assets totaling more than $1.9 billion. Nine Chapters Capital Management LLC, a quant fund based in Short Hills, NJ, and Saba Capital Management LP, a long/short credit fund located in New York, both landed in the top 170.
Midtown Manhattan retained its position as the hedge fund capital of the world housing 159 of the top 200 funds. In fact, just two midtown zip codes (10019 and 10022) are home to 83 of the top 200 NYC area hedge funds. Hedge funds with offices in 10022, which is home to a number of the industry’s powerhouses such as Renaissance Technologies, Paulson & Co., Coatue Capital, and Third Point, manage 22% of the list’s total equity assets.
The top Connecticut hedge funds on the list were AQR Capital Management LLC (#3 on the list), Steve Mandel’s Lone Pine Capital (#7) and Andreas Halvorsen’s Viking Global Investors (#8). The top metro area suburb was once again Greenwich with 17 funds, followed by Westport and Stamford, with 4 and 3 funds, respectively.
HedgeTracker releases a series of top hedge fund lists on a quarterly basis. To view the Top 200 New York Hedge Fund list in its entirety, please visit the Top Hedge Fund List Premium Directory.
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