JP Morgan not affected by the credit crunch
Even though three of the top ten largest hedge funds in the US lost an estimated $24 billion in assets last year, the overall assets of the top US hedge funds actually rose in 2007 by more than 33%.
JP Morgan topped the list with total assets under management of $44.7 billion dollars. JP Morgan has a number of hedge funds under its management, including JP Morgan Asset Management and Highbridge Capital Management. JP Morgan topped the list even though they suffered from a loss of $8.5 billion in assets, mainly due to redemptions and some losses in their statistical arbitrage fund.
Bridgewater Associates was second on the list with total assets under management of $36 billion dollars. They were almost tied with Farallon Capital Management, who boasted a similar figure in total assets.
Renaissance Technologies came in fourth place with $34 billion dollars, and Och-Ziff Capital Management, the publicly traded hedge fund firm, was in fifth place with $33.2 billion in assets. DE Shaw and Goldman Sachs Asset Management both fell in 2007 due to their exposure to quant funds, and finished up in sixth and seventh place respectively.
Paulson and Company also soared into the top ten due to their aggressive bets against the subprime mortgage market.
Many companies that had significant exposure to quant funds managed to recover in the latter part of 2007. The recover continues in 2008, and it will be interesting to see if firms such as Goldman Sachs can start scaling their way back up the list.
Related posts:
- Hedge Funds Getting Through The Credit Crunch of 2008 Bridgewater Associates comment on the credit crunch effecting the hedge funds; For the most part, hedge funds have gotten through the credit crunch relatively unscathed. For example, the average hedge...
- House Crunch effecting Hendge Fund Farallon Capital Management TCM reports: “The housing crunch continues. The Los Angeles Times Land Blog has a stunning report on just how bad real estate prices have fallen in California during the past...
- Assets Increased for Hedge Funds in October, 2009 According to the research firm Eurekahedge Pte, hedge fund assets increased in the month of October by $7.8 billion....
