New York Area Hedge Funds Amass $780 billion; Manhattan still the epicenter

December 10th, 2014
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HedgeTracker recently released its latest installment of the Top 100 New York Metro Area Hedge Funds list and D.E. Shaw & Co retains the top spot. D.E. Shaw finished the quarter with equity assets closing in on $49B. Overall, the Top 100 New York Metro Area Equity Hedge Funds recorded another strong quarter with assets eclipsing $780B. Beyond DE Shaw, the list is led by Renaissance Technologies Corporation ($36.5B); Millennium Management ($35.3B); AQR Capital Management LLC ($34.2B); and Icahn Associates ($33.6B).

Not surprisingly, Manhattan retained its position as the hedge fund capital of the world, housing 81 of the top 100 NYC funds. In fact, just two midtown zip codes (10019 and 10022) are home to 45 of the top 100 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., and Third Point, manage 22% of the list’s total equity assets.

Notably, 19 hedge funds on the list are headquartered outside of Manhattan. These suburban based hedge funds, which oversee nearly $169B in assets, are primarily based in the Connecticut suburbs. The top Connecticut hedge funds on the list were AQR Capital Management LLC (#4 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 7 funds, followed by Westport and Stamford, with 2 funds each.

New Jersey is also represented on the list with a fund in each of the following towns: Short Hills, Summit, Cresskill, and Berkeley Heights. The highest ranking NJ-based fund is David Tepper’s Appaloosa Management (#33), a distressed investor with $6.8B in assets.

Some newcomers to this quarter’s top 100 NYC hedge fund list include Capstone Investment Advisors (#90) and TIG Advisors LLC (#98). Capstone invests in public equity and fixed income markets across the globe through relative value volatility and structured credit strategies. TIG, aka Tiedemann Investment Group, is based on Madison Avenue in Manhattan and employs multiple investment strategies, including structured credit.

Hedge Tracker releases a series of top hedge fund lists on a quarterly basis. To view the Top 100 and 200 New York Hedge Fund lists in their entirety, please visit Hedge Tracker’s Premium Hedge Fund Portal.
For Detailed Investor Profiles on these Investors, click below:
Appaloosa Management
Coatue Capital
D.E. Shaw & Co
Lone Pine Capital
Paulson & Co.
Renaissance Technologies Corporation
Related People: Peter Brown; Robert L. Mercer; Andrew Hoine; Anne Dinning; David Craver; David E. Shaw; David Scully (CMO); David Tepper; Eric Wepsic; Jack Walton; Jim Simons; John Paulson; Julius Gaudio; Kerry Tyler; Louis Salkind; Mala Gaonkar; Marco Tablada; Max Stone; Mena Gerowin*; Mike Barr; Philippe Laffont; Sheru Chowdhry; Steve Mandel; Steve Mandel; Stuart Merzer; Stuart Steckler(retired)*; Thomas Laffont
Related Entities: Coatue Capital; Coatue Offshore funds; Coatue Qualified Partners LP; D. E. Shaw Oculus Portfolios, LLC; D. E. Shaw Valence Portfolios; D.E. Shaw Group; D.E. Shaw Investment Management; DE Shaw Heliant Fund; Lone Balsam LP; Lone Cascade; Lone Cypress Funds; Lone Dragon Pine; Lone Juniper; Lone Pine Capital (LPC); Lone Pine Sierra LP; Lone Sequoia LP; Lone Spruce LP; Medallion; Nova; Palomino Funds.; Paulson Advantage Master Ltd; Paulson Advantage Plus Master Ltd; Paulson Real Estate Recovery Fund; Paulson Recovery Fund; PCI; Renaissance Institutional Equities Funds; Renaissance Institutional Management LLC; Renaissance Technologies LLC; Rentec; Tiger Management*
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Featured Reports; Featured Article


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