Top Emerging Hedge Fund Managers Dip Slightly; Corvex Management sees significant growth; PDT falls

October 15th, 2013
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The Top U.S. Equity Emerging Hedge Fund Managers dropped marginally to $57.7 billion from $59.1 billion in U.S. equity assets, according to the latest hedge fund industry report. The Top Emerging Manager List is again led by Sean Cullinan’s PointState Capital, which reported assets of $5.4 billion, having increasing by 3.0% since the first quarter.

Alexander Klabin and Douglas Silverman’s Senator Investment Group regained the #2 spot on the list from Peter Muller’s PDT Partners LLC, which fell from #2 to #4 this quarter. Both Senator Investment Group and PDT Partners are headquartered in New York City, along with six other hedge funds from the top 10 list.

The assets of #5 on the list, Corvex Management, increased more than 66% over the quarter to $3.8 billion. Corvex is an event-driven and opportunistic investor that trades across the capital structure. Founded by Keith Meister in 2010, Corvex is based in New York City and particularly focuses on equity investments, special situations and distressed securities largely in North America. Corvex conducts in-house fundamental research to uncover situations with identifiable catalysts. Meister is a long-time protégé of Carl Icahn.

Long/short equity focused Soroban Capital Partners reported equity assets of nearly $4.3 billion at the end of the second quarter to grab the 3rd spot on the list. Soroban Capital, which is led by Eric Mandelblatt, Gaurav Kapadia and Scott Friedman, launched its flagship hedge fund in November of 2010. Before founding the NY-based firm, all three founders worked together at TPG-Axon Capital.

Ranking Methodology: The Top U.S. Equity Emerging Manager Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms’ overall U.S. equity assets. The Emerging Hedge Fund rankings include firms that were launched in 2008 or later. To view the list in its entirety, please visit Hedge Tracker’s Hedge Fund Portal.
For Detailed Investor Profiles on these Investors, click below:
Corvex Management
PointState Capital
Soroban Capital Partners
TPG-Axon Capital
Related People: Andrew Metcalf; Anuj Malhotra*; Dinakar Singh; Eric Mandelblatt; Gaurav Kapadia; Jeff Eisenstein; Keith Meister; Michael Doniger; Nicholas Graziano; Rupal Doshi; Scott Friedman; Sean Cullinan*; Stanley Druckenmiller*; Steve Johnson; Zach Schreiber (CEO)
Related Entities: PointState Capital LP; PointState Fund LP; PointState Holdings LLC; Soroban Capital Partners LLC; TPG-Axon Capital Management*; Montrica Investment Management; Point State Capital; Soroban Fund LLC; Texas Pacific Group;; TPG Pharma Partners; TPG-Axon Cube SA; TPG-Axon Cube Trust; TPG-Axon Partners LP; TPG-Axon Partners Offshore Ltd
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Jobs, Hirings and Firings; Hedge Fund Launches and Hedge Fund Closings

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