Hold the phone: New list of big hedge funds looks quite different
| May 29th, 2007 | Filed under: Hedge Fund Industry Trends | By: Alpha Male |
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Much has been written about Alpha Magazine’s listing of the world’s largest single-manager hedge funds (the hedge fund industry “sell-side” view). But with the majority of new assets expected to flow into hedge funds coming from institutions, we think its interesting to see who’s in the lead when it comes to winning pension & foundation assets (the hedge fund industry “buy-side” view).
With impeccable timing, Pensions & Investments released their annual ranking of the largest managers of US pensions & foundations yesterday. Bear in mind that the surveys used different methodologies, captured different assets and accounted for subsidiaries differently. So any direct comparison is virtually impossible. But when you see these two sets of rankings, it’s immediately apparent that the overlap is minimal. Either many single-manager hedge funds don’t respond to P&I’s requests for data or they actually manage no tax exempt US assets (given the apparent flood of institutional assets going to the largest hedge funds, we assume it’s a mixture of both). More…
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