Hedge Fund Intelligence: As money continued to flow into alternatives last year, combined assets at the largest U.S. hedge funds finally crossed the trillion-dollar mark. The top three firms each exceeded $30 billion in assets for the first time, with JPMorgan Asset Management unseating Goldman Sachs Asset Management as the largest hedge fund platform, with $34 billion. Among the top tier, Renaissance Technologies joins the top 10 for the first time, and Cerberus Capital Management rejoins the list after a three-year hiatus.
The Absolute Return Billion Dollar Club, our biannual survey of U.S. hedge funds, shows that 241 firms, each managing more than $1 billion, held a combined total of nearly $1.2 trillion as of January 1. That is about $215 billion more than the top 218 firms were managing this past summer and $347 billion more than the top 207 firms were running at the beginning of last year. And the huge increases came during a year when hedge fund closures, including that of $9.1 billion Amaranth Advisors, erased $35 billion from the market. (See "Poof! $35 billion gone from hedge funds," p14.)
I originally posted more information -- including a long list of >$4B funds, but was asked by Hedge Fund Intelligence to remove most of it.