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2013I N A S S O C I A T I O N W I T H
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
01
Brevan Howard
1Total AUM (as at 30.06.13)$40.0bn
2 2012 ranking2
3Founded2002
4Founders/principalsAlan Howard
5Hedge fund(s)Fund name: Brevan Howard Master Fund LimitedInception date: 04/2003AUM: $27.4bnPortfolio manager: Multiple portfolio managersStrategy: Global macro, relative valueAsset classes: Fixed income and FXDomicile: Cayman Islands
Fund name: Brevan Howard Multi-Strategy Master Fund LimitedInception date: 03/2008AUM: $4.8bnPortfolio manager: N/AStrategy: Multi-strategyAsset classes: Fixed income, FX, credit, commoditiesDomicile: Cayman Islands
Fund name: Brevan Howard Credit Catalyst Master Fund LimitedInception date: 06/2009AUM: $4.0bnPortfolio manager: David WarrenStrategy: Catalyst-driven fundamentalAsset classes: Credit and mortgage tradingDomicile: Cayman Islands
Fund name: Brevan Howard Emerging Markets Master Fund LimitedInception date: 04/2007AUM: $2.6bnPortfolio manager: Geraldine SundstromStrategy: Emerging markets macroAsset classes: Fixed income, credit, FXDomicile: Cayman Islands
Fund name: Brevan Howard Asia Master Fund LimitedInception date: 10/2004AUM: $2.0bnPortfolio manager: Kaspar ErnstStrategy: Global macro, relative valueAsset classes: Fixed income, FXDomicile: Cayman Islands
6Dedicated managed accounts AUM$42.0m
7aUCITS-compliant hedge fund AUM$2.0bn
7bUCITS-compliant fundsBrevan Howard Investment Fund - Emerging Markets Local Fixed Income Fund Brevan Howard Investment Fund II - Macro FX Fund
02
Man
1Total AUM (as at 30.06.13)$35.6bn
2 2012 ranking1
3Founded1783 (as a cooperage)
4Founders/principalsManny Roman (CEO), Luke Ellis (President), Jonathan Sorrell (CFO)
5Hedge fund(s)Fund name: Man AHL Diversified plcInception date:03/1996AUM: $7.9bnPortfolio manager: Tim Wong, Matthew SargaisonStrategy: Managed futuresAsset classes: Cross assetDomicile: Ireland
Fund name: GLG European Long ShortInception date: 09/2000AUM: $2.7bnPortfolio manager: Pierre Lagrange, Simon Savage, Darren HodgesStrategy: Multi-strategy – equity long/short, market neutralAsset classes: EquityDomicile: Cayman Islands and onshore UCITS
Fund name: FRM Diversified IIInception date: 01/2004AUM: $2.1bnPortfolio manager: Paul le PageStrategy: Multi-strategy – low volatilityAsset classes: TraditionalDomicile: Cayman Islands
Fund name: GLG Market NeutralInception date: 01/1998AUM: $910.0mPortfolio manager: Steve RothStrategy: Multi-strategy – arbitrageAsset classes: Credit and convertibles Domicile: Cayman Islands
Fund name: AHL DimensionInception date: 07/2006AUM: $900.0m (approx.)Portfolio manager: Tim Wong, Nick GrangerStrategy: Multi-strategy quantAsset classes: Cross assetDomicile: Guernsey
6Dedicated managed accounts AUM$8.2bn
7aUCITS-compliant hedge fund AUM$2.6bn
7bUCITS-compliant fundsGLG Alpha Select Alternative GLG Atlas Macro Alternative GLG EM Currency & Fixed Income Alternative GLG EM Diversified Alternative GLG European Alpha Alternative GLG European Equity Alternative GLG Financials Alternative GLG North American Equity Alternative
03
BlueCrest Capital Management
1Total AUM (as at 01.04.13)$34.22bn
2 2012 ranking3
3Founded2000
4Founders/principalsMike Platt, Leda Braga
5Hedge fund(s)Fund name: BlueCrest Capital InternationalInception date: 12/2000AUM: $13.5bnPortfolio manager: Mike PlattStrategy: Global macroAsset classes: Not disclosedDomicile: Not disclosed
Fund name: BlueTrendInception date: 04/2004AUM: $15.4bnPortfolio manager(s): Leda BragaStrategy: Systematic trend followingAsset classes: Not disclosedDomicile: Not disclosed
Fund name: AllBlueInception date: 09/2005AUM: $7.7bnPortfolio manager: Mike PlattStrategy: Multi strategyAsset classes: Not disclosedDomicile: Not disclosed
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMNot disclosed
7bUCITS-compliant fundsNot disclosed
04
Blackrock
1Total AUM (as at 30.06.13)$28.7bn
2 2012 ranking6
3Founded1988
4Founders/principalsLarry Fink
5Hedge fund(s)Fund name: UK Emerging Companies Hedge FundInception date: Not disclosed AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Equity long/short Asset classes: Not disclosedDomicile: Not disclosed
Fund name: UK Equity Hedge FundInception date: Not disclosed AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Equity long/short Asset classes: Not disclosedDomicile: Not disclosed
Fund name: EOSInception date: Not disclosed AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Equity long/short Asset classes: Not disclosedDomicile: Not disclosed
Fund name: Fixed Income Global AlphaInception date: Not disclosed AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Fixed income multi-strategy Asset classes: Not disclosedDomicile: Not disclosed
Fund name: European Hedge FundInception date: Not disclosed AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Equity long/short Asset classes: Not disclosedDomicile: Not disclosed
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUM$4.7bn
7bUCITS-compliant fundsUK Absolute AlphaEuropean Absolute ReturnEuropean Credit StrategiesEDEARGlobal Absolute Return Bond
EUROPE50
2
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
07
Brummer and Partners
1Total AUM (as at 30.06.13)$16.2bn
2 2012 ranking8
3Founded1995
4Founders/principalsPatrik Brummer, Per Josefsson, Peter Thelin, Kent Janér, Svante Elfving, Klaus Jäntti
5Hedge fund(s)Fund name: Brummer Multi-StrategyInception date: 04/2002AUM: $5.27bnPortfolio manager: Klaus Jäntti, Patrik BrummerStrategy: Multi strategyAsset classes: Not disclosed Domicile: Sweden
Fund name: LynxInception date: 05/2000AUM: $4.88bnPortfolio manager: Svante Bergström, Jonas Bengtsson, Martin Sandquist, Anders Holst, Jesper SandinStrategy: Systematic macroAsset classes: Not disclosed Domicile: Sweden, Bermuda
Fund name: NektarInception date: 01/1998AUM: $4.38bnPortfolio manager: Kent Janér, Thomas Andersson, Fredrik Attefall, Martin Larsén, Kerim Kaskal, Martin Larsén, Patrik Olsson, Thomas Orbert, Ralf Siebel, Domenico Veronese, Dirk WiemerStrategy: Fixed income, macro relative valueAsset classes: Not disclosed Domicile: Sweden, Bermuda
Fund name: ZenitInception date: 07/1996AUM: $1.53bnPortfolio manager: Martin Jonsson, Tom Hedges, Stephen Irvine, Anders WennbergStrategy: Global equitiesAsset classes: Not disclosed Domicile: Sweden
Fund name: ObservatoryInception date: 07/2004AUM: $1.07bnPortfolio manager: Shazad Ghaffar, Salman Khan, Edward ZeeStrategy: Global credit marketAsset classes: Not disclosed Domicile: Cayman Islands
6Dedicated managed accounts AUM$2.3bn
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
08
Amundi
1Total AUM (as at 30.06.13)$12.45bn
2 2012 ranking10
3Founded2010
4Founders/principalsLaurent Guillet (CEO), Franck Dargent, (Deputy CEO), Luc Martin (CIO), Sylvie Dehove (Deputy CIO).
5Hedge fund(s)Fund name: Amundi Alternatives Jana NirvanaInception date: 09/2011 (managed account), 04/2007 (reference fund) AUM: $303.0m (managed account) Portfolio manager: Barry Rosenstein, Gary ClaarStrategy: Event driven US – value catalyst strategyAsset classes: Equities, credit, commodities Domicile: Dublin (Ireland)
Fund name: Amundi Alternatives TPG AxonInception date: 01/2012 (managed account), 02/2005 (reference fund) AUM: $240.0m (managed account) Portfolio manager: Dinakar SinghStrategy: Long/short equity – global fundamental long/short fund that invests across the capital structure with an emphasis on large cap equitiesAsset classes: Equities, equity derivatives, credit, credit derivatives, commodities, FX Domicile: Dublin (Ireland)
Fund name: Amundi Alternatives TIG Arbitrage Associates EnhancedInception date: 05/2011 (managed account), 01/1993 (reference fund) AUM: $233.0m (managed account) Portfolio manager: Drew FigdorStrategy: Merger arbitrage US focusing on announced and international M&A transactions onlyAsset classes: Principally equities and corporate debtDomicile: Dublin (Ireland)
6Dedicated managed accounts AUM$7.18bn
7aUCITS-compliant hedge fund AUM$6.97bn
7bUCITS-compliant fundsAmundi Funds Absolute Volatility Euro EquitiesAmundi Funds Absolute Volatility World EquitiesAmundi Funds Absolute Volatility ArbitrageAmundi Funds Absolute Volatility Arbitrage PlusAmundi Funds Absolute Equity Market NeutralAmundi Funds Absolute Global Macro 2 (EUR)Amundi Funds Absolute Global Macro 4 (EUR)
05
Winton Capital Management
1Total AUM (as at 30.06.13)$24.8bn
2 2012 ranking4
3Founded1997
4Founders/principalsDavid Harding, Anthony Daniell, Tony Fenner- Leitão, Matthew Beddall, Raj Patel
5Hedge fund(s)Fund name: Winton Futures FundInception date: 10/1997AUM: $9.7bnPortfolio manager: SystematicStrategy: DiversifiedAsset classes: Futures, options, listed equities, fixed incomeDomicile: BVI
Fund name: Winton Diversified Futures Fund (US) L.P.Inception date: 07/2012AUM: $159.9mPortfolio manager: SystematicStrategy: DiversifiedAsset classes: Futures, options, fixed incomeDomicile: Delaware, USA
Fund name: Winton Evolution FundInception date: 09/2005AUM: $30.0mPortfolio manager: SystematicStrategy: DiversifiedAsset classes: Futures, options, listed equities, fixed income Domicile: Cayman Islands
Fund name: Winton Global Equity FundInception date: 12/2010AUM: $280.1mPortfolio manager: SystematicStrategy: Long-only global equityAsset classes: Listed equitiesDomicile: Ireland, UCITS IV
6Dedicated managed accounts AUM$14.6bn
7aUCITS-compliant hedge fund AUM$280.1m
7bUCITS-compliant fundsWinton Global Equity Fund
06
GAM Holding
1Total AUM (as at 30.06.13)$24.1bn*
2 2012 ranking7
3FoundedGAM was founded in 1983. Swiss & Global launched their first investment fund (as part of Julius Baer group) in 1970.
4Founders/principalsDavid M. Solo, Andrew Hanges, Martin Jufer, Michele Porro, Scott Sullivan, Marco Suter, Craig Walli
5Hedge fund(s)Fund name: Absolute Return Bond StrategiesInception date: 04/2004AUM: $15.9bnPortfolio manager: Tim Haywood, Daniel Sheard, Jack FlahertyStrategy: Unconstrained fixed incomeAsset classes: Fixed income and derivativesDomicile: Luxembourg (SICAV), Cayman Islands
Fund name: GAM Global Rates and Discretionary FX StrategyInception date: 01/2004AUM: $2.7bnPortfolio manager: Adrian OwensStrategy: Macro managed futuresAsset classes: Fixed income and derivativesDomicile: Ireland (UCITS), Cayman Islands
Fund name: World Invest/Talentum Developed Europe StrategyInception date: 07/2002AUM: $1.0bnPortfolio manager: Gianmarco Mondani, Roberto Cantaluppi, Paolo LonginottiStrategy: Non-directional equityAsset classes: Europe equity long/shortDomicile: Luxembourg (SICAV), Cayman Islands
Fund name: JB EF Absolute Return EuropeInception date: 09/2010AUM: $300.0mPortfolio manager: Andy KastnerStrategy: Equity long/shortAsset classes: Europe equity long/shortDomicile: Luxembourg (SICAV)6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMNot disclosed
7bUCITS-compliant fundsGAM Star FundsJulius Baer Absolute Return FundsWorld Invest Funds
* Note: In April 2013, GAM Holding AG introduced a new management structure reflecting the convergence in the activities of GAM and Swiss & Global Asset Management. As a result, total AUM is now combined for GAM and Swiss and Global AM.
EUROPE50
3
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
12
CQS
1Total AUM (as at 30.06.13)$9.7bn
2 2012 ranking14
3Founded1999
4Founders/principalsMichael Hintze
5Hedge fund(s)Fund name: CQS Directional Opportunities FundInception date: 08/2005Strategy AUM: $2.5bnPortfolio manager: Michael HintzeStrategy: Multi-strategy directionalAsset classes: Not disclosedDomicile: Not disclosed
Fund name: CQS ABS FundInception date: 10/2006Strategy AUM: $2.3bnPortfolio manager: Simon Finch, ABS teamStrategy: Long/short relative value asset backed securitiesAsset classes: Not disclosed Domicile: Not disclosed
Fund name: CQS Diversified Fund Inception date: 03/2007Strategy AUM: $935mPortfolio manager: James Peattie, Peter Warren, Investment Advisory CommitteeStrategy: Multi-strategy Asset classes: Not disclosed Domicile: Not disclosed
Fund name: CQS Credit Long Short Fund Inception date: 04/2009Strategy AUM: $808mPortfolio manager: Simon FinchStrategy: Credit long/short Asset classes: Not disclosed Domicile: Not disclosed
Fund name: CQS Convertible and Quantitative Strategies Fund Inception date: 03/2000Strategy AUM: $607mPortfolio manager: Michael Hintze, Alex Schoenenberger, Convertibles teamStrategy: Global convertible arbitrage Asset classes: Not disclosed Domicile: Not disclosed
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
10
Marshall Wace
1Total AUM (as at 30.06.13)$10.74bn
2 2012 ranking18
3Founded1997
4Founders/principalsIan Wace, Paul Marshall
5Hedge fund(s)Fund name: MW EurekaInception date: 01/1998AUM: $4.37bnPortfolio manager: Paul MarshallStrategy: Long/short equityAsset classes: EquityDomicile: Ireland
Fund name: MW Global OpportunitiesInception date: 02/2009AUM: $2.25bnPortfolio manager: Fehim SeverStrategy: Long/short equityAsset classes: EquityDomicile: Ireland
Fund name: MW CoreInception date: 07/2002AUM: $1.33bnPortfolio manager: Ernesto FragomeniStrategy: Long/short equityAsset classes: EquityDomicile: Ireland
Fund name: MW European TOPSInception date: 07/2002AUM: $1.97bnPortfolio manager: Anthony ClakeStrategy: Long/short equityAsset classes: EquityDomicile: Ireland
Fund name: MW Market Neutral TOPSInception date: 11/2007AUM: $1.42bnPortfolio manager: Anthony ClakeStrategy: Equity market neutralAsset classes: EquityDomicile: Ireland
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUM$1.63bn
7bUCITS-compliant fundsNot disclosed
11
Cevian Capital
1Total AUM (as at 30.06.13)$9.8bn
2 2012 ranking15
3Founded2002
4Founders/principalsLars Förberg, Christer Gardell
5Hedge fund(s)Fund name: Cevian Capital IIInception date: 07/2006AUM: $8.35bnPortfolio manager: Lars Förberg, Christer GardellStrategy: Operational activist (Europe-focused)Asset classes: Equity Domicile: Cayman Islands
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
09
Lansdowne Partners
1Total AUM (as at 30.06.13)$12.32bn
2 2012 ranking11
3Founded1998
4Founders/principalsSir Paul Ruddock, Steven Heinz
5Hedge fund(s)Fund name: Lansdowne Developed Markets FundInception date: 08/2001AUM: $8.1bnPortfolio manager: Peter Davies, Stuart Roden and Jonathon RegisStrategy: Long/short equityAsset classes: EquitiesDomicile: Cayman Islands and Delaware (US)
Fund name: Lansdowne Global Financials FundInception date: 07/2004AUM: $1.1bnPortfolio manager: William de WintonStrategy: Long/short equityAsset classes: EquitiesDomicile: Cayman Islands and Delaware (US)
Fund name: Lansdowne Developed Markets Strategic Investment FundInception date: 07/2007AUM: $835.0mPortfolio manager: Peter Davies, Stuart Roden and Jonathon RegisStrategy: Unconstrained equity fundAsset classes: EquitiesDomicile: Cayman Islands and Delaware (US)
Fund name: Lansdowne European Equity FundInception date: 09/1998AUM: $496.0mPortfolio manager: David Craigen and Steven HeinzStrategy: Long/short equityAsset classes: EquitiesDomicile: Cayman Islands and Delaware (US)
Fund name: Lansdowne European Long Only FundInception date: 01/2005AUM: $272.0mPortfolio manager: Steven Heinz and Daniel AvigadStrategy: Long only equityAsset classes: EquitiesDomicile: Cayman Islands and Delaware (US)
6Dedicated managed accounts AUM$1.24bn
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
EUROPE50
4
13
Capula
1Total AUM (as at 30.06.13)$9.6bn
2 2012 ranking9
3Founded2005
4Founders/principalsYan Huo, Masao Asai
5Hedge fund(s)Not disclosed
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMNot disclosed
7bUCITS-compliant fundsNot disclosed
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
15
Polygon Investment Group
1Total AUM (as at 30.06.13)$7.1bn
2 2012 ranking13
3Founded2002
4Founders/principalsReade Griffith, Paddy Dear
5Hedge fund(s)Fund name: Convertible Opportunity FundInception date: 05/2009AUM: Not disclosedPortfolio manager: Mike HumphriesStrategy: Event driven convertible bondsAsset classes: Convertible bondsDomicile: Cayman Islands
Fund name: European Equity Opportunity FundInception date: 07/2009AUM: Not disclosedPortfolio manager: Reade Griffith, Nicolas DautignyStrategy: European event driven equitiesAsset classes: EquitiesDomicile: Cayman Islands
Fund name: Mining Opportunity FundInception date: 06/2012AUM: Not disclosedPortfolio manager: Peter Bell, Mike HumphriesStrategy: Long/short equityAsset classes: EquitiesDomicile: Cayman Islands
Fund name: Tetragon Financial GroupInception date: 08/2005AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Not disclosedAsset classes: Not disclosedDomicile: Guernsey
Fund name: LCMInception date: 08/2001AUM: Not disclosedPortfolio manager: Farboud TavangarStrategy: US loansAsset classes: Fixed incomeDomicile: Not disclosed
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
14
Transtrend
1Total AUM (as at 30.06.13)$7.4bn (est.)
2 2012 ranking12
3Founded1991
4Founders/principalsJoep van den Broek, Harold de Boer, Mark van Dongen, Andre Honig
5Hedge fund(s)Fund name: Diversified Trend ProgramInception date: 06/1992AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Managed futuresAsset classes: Not disclosedDomicile: Not disclosed
Fund name: Equity Trend ProgramInception date: 01/2007AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Systematic long/short equityAsset classes: Not disclosedDomicile: Not disclosed
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
16
Cheyne Capital
1Total AUM (as at 30.06.13)$6.8bn
2 2012 ranking20
3Founded1999
4Founders/principalsJonathan Lourie, Stuart Fiertz, Chris Goekjian
5Hedge fund(s)Fund name: Cheyne Real Estate Debt FundInception date: 10/2009AUM: Not disclosedPortfolio manager: Shamez Alibhai, Ravi StickneyStrategy: European real estate debtAsset classes: Not disclosed Domicile: Cayman Islands
Fund name: Cheyne Total Return Credit FundInception date: 07/2006AUM: Not disclosedPortfolio manager: John Weiss, David PeacockStrategy: Long only actively managed corporate creditAsset classes: Not disclosed Domicile: Cayman Islands
Fund name: Cheyne European Event Driven FundInception date: 10/2009AUM: Not disclosedPortfolio manager: Simon Davies, Michel MassoudStrategy: European event drivenAsset classes: Not disclosed Domicile: Cayman Islands
Fund name: Cheyne Real Estate Credit Holdings FundInception date: 07/2011AUM: Not disclosedPortfolio manager: Shamez Alibhai, Ravi StickneyStrategy: Real estate mezzanine lendingAsset classes: Not disclosed Domicile: Cayman Islands
Fund name: Cheyne Multi-Strategy FundInception date: 04/2005AUM: Not disclosedPortfolio manager: Chris GoekjianStrategy: Multi-StrategyAsset classes: Not disclosed Domicile: Cayman Islands
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUM$400m
7bUCITS-compliant fundsCheyne Convertibles Absolute Return FundCheyne European Real Estate Bond FundCheyne Global Credit FundCheyne Malacca Asia Long/Short Fund
EUROPE50
5
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
18=
Capital Fund Management
1Total AUM (as at 30.06.13)$5.8bn
2 2012 ranking21=
3Founded1991
4Founders/principalsJean-Philippe Bouchaud, Philippe Jordan, Marc Potters and Jacques Saulière
5Hedge fund(s)Fund name: StratusInception date: 12/2003AUM: $4.8bnPortfolio manager: Team-managedStrategy: Multi-strategy quantitative systematic program allocated to directional trading, equity statistical arbitrage, equity volatility arbitrage, directional volatility and intraday tradingAsset classes: Futures, cash bonds, spot FX, ETFs, equities and optionsDomicile: BVI, Cayman Islands and Delaware
Fund name: DiscusInception date: 01/1991AUM: $2.9bnPortfolio manager: Team-managedStrategy: Quantitative managed futures programAsset classes: Futures and spot FXDomicile: BVI and Cayman Islands
6Dedicated managed accounts AUM$429m
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
18=
Henderson Alternative Investment Advisors Ltd
1Total AUM (as at 30.06.13)$5.8bn
2 2012 ranking13
3Founded1969
4Founders/principalsAndrew Formica, Paul Graham, Ben Wallace, Luke Newman, Rob Giles, Adam McConkey, Jamie Brooke, John Stewart, William Garnett, Jeremy Hall, Léopold Arminjon, John Bennett, John Crawford
5Hedge fund(s)Fund name: AlphaGen OctanisInception date: 03/2005AUM: $888.21m Portfolio manager: Ben Wallace, Luke NewmanStrategy: UK large cap equity long/shortAsset classes: EquitiesDomicile: Cayman Islands
Fund name: AlphaGen Volantis, Volantis Catalyst and UK Best IdeasInception date: 05/2002AUM: $764.19m Portfolio manager: Rob Giles, Adam McConkey, Jamie BrookeStrategy: UK small cap equity long/shortAsset classes: EquitiesDomicile: Cayman Islands
Fund name: AlphaGen Hokuto and TenroInception date: 11/2000AUM: $589.99mPortfolio manager: John Stewart, Robert Tull, Vincent MusumeciStrategy: Japan equity long/shortAsset classes: Equities Domicile: Cayman Islands
Fund name: Japan Absolute Return Inception date: 07/2000AUM: $371.72m Portfolio manager: William Garnett, Jeremy HallStrategy: Japan equity long/shortAsset classes: EquitiesDomicile: Cayman Islands
Fund name: AlphaGen Tucana, Capella and European Equity HybridInception date: 11/1999AUM: $352.28mPortfolio manager: Léopold Arminjon, John BennettStrategy: European high-conviction equity long/shortAsset classes: Equities Domicile: Cayman Islands
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMNot disclosed
7bUCITS-compliant fundsNot disclosed
17
Aspect Capital
1Total AUM (as at 30.06.13)$6.2bn
2 2012 ranking16
3Founded1997
4Founders/principalsAnthony Todd, Martin Lueck, John Wareham, Kenneth Hope, Barney Dalton, Jean-Michel Fayolle
5Hedge fund(s)Fund name: Aspect Diversified FundInception date: 12/1998AUM: $1.5bnPortfolio manager: Aspect Capital LimitedStrategy: Aspect Diversified ProgrammeAsset classes: Managed futures Domicile: Cayman Islands
Fund name: Aspect Diversified Trends Fund (UCITS Compliant)Inception date: 12/2010AUM: $774.8mPortfolio manager: Aspect Capital LimitedStrategy: Aspect Diversified ProgrammeAsset classes: Managed futures Domicile: Ireland
6Dedicated managed accounts AUM$4.0bn
7aUCITS-compliant hedge fund AUM$774.8m
7bUCITS-compliant fundsAspect Diversified Trends Fund
20=
Dexia Asset Management
1Total AUM (as at 30.06.13)$5.6bn
2 2012 ranking21
3Founded1996
4Founders/principalsNaïm Abou-Jaoudé, Fabrice Cuchet
5Hedge fund(s)Fund name: Dexia Index ArbitrageInception date: 09/2003AUM: $1.7bnPortfolio manager: E. TerrazStrategy: Index arbitrageAsset classes: Long/short equities Domicile: France
Fund name: Dexia Long Short Credit Inception date: 10/2009AUM: $666.0mPortfolio manager: Philippe Noyard, Patrick ZeenniStrategy: Arbitrage (long and short)Asset classes: Long/short creditDomicile: France
Fund name: Dexia World Alternative Alphamax Inception date: 07/2001AUM: $351.0mPortfolio manager: J-G Nicolay, M.FerrandStrategy: Multi-strategy fund of hedge fundsAsset classes: DiversifiedDomicile: Luxembourg
Fund name: Dexia Bonds Global Convertible Optimum Inception date: 11/2009AUM: $260.0mPortfolio manager: O. GenestStrategy: AggregateAsset classes: Convertible bondsDomicile: Luxembourg
Fund name: Dexia Diversified FuturesInception date: 11/2009AUM: $139.0mPortfolio manager: S. BrumentStrategy: Trend-following systematicAsset classes: DiversifiedDomicile: France
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUM$4.1bn
7bUCITS-compliant fundsNot disclosed
EUROPE50
6
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
22
Credit Suisse
1Total AUM (as at 30.06.13)$5.46bn
2 2012 ranking25
3Founded1856
4Founders/principalsNiklaus Hilti (Insurance Linked Strategies)
5Hedge fund(s)Fund name: Insurance Linked Strategies (several funds)Inception date: 10/2006AUM: $5.31bnPortfolio manager: Niklaus HiltiStrategy: Insurance-linkedAsset classes: InsuranceDomicile: Guernsey, Cayman Islands
Fund name: European Small and Mid Cap Opportunity FundInception date: 09/2007AUM: $154.3mPortfolio manager: Felix MeierStrategy: Equity long/shortAsset classes: European small and mid cap equitiesDomicile: Guernsey, Luxembourg
6Dedicated managed accounts AUM$1.43bn
7aUCITS-compliant hedge fund AUM$77.0m
7bUCITS-compliant fundsCredit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short
23
Aquila
1Total AUM (as at 30.06.13)$5.3bn
2 2012 ranking24
3Founded2001
4Founders/principalsDr. Dieter Rentsch, Roman Rosslenbroich
5Hedge fund(s)Fund name: AC Risk Parity 7 FundInception date: 2004AUM: $800.0mPortfolio manager: Harold Heuschmidt, Aquila Capital Quant TeamStrategy: Multi-asset risk parityAsset classes: Commodities, bonds, equities, interest ratesDomicile: Luxembourg
Fund name: AC Risk Parity 12 FundInception date: 2008AUM: $510.0mPortfolio manager: Harold Heuschmidt, Aquila Capital Quant TeamStrategy: Multi-asset risk parityAsset classes: Commodities, bonds, equities, interest ratesDomicile: Luxembourg
Fund name: AC Risk Parity 17 FundInception date: 2012AUM: $30.0mPortfolio manager: Harold Heuschmidt, Aquila Capital Quant TeamStrategy: Multi-asset risk parityAsset classes: Commodities, bonds, equities, interest ratesDomicile: Luxembourg
6Dedicated managed accounts AUM$1.6bn
7aUCITS-compliant hedge fund AUM$1.5bn
7bUCITS-compliant fundsAC Risk Parity 7 FundAC Risk Parity 12 FundAC Risk Parity 17 FundAC Risk Parity Bond Fund
20=
TCI The Children’s Investment
Fund Management
1Total AUM (as at 30.06.13)$5.6bn (est.)
2 2012 ranking19
3Founded2003
4Founders/principalsChris Hohn
5Hedge fund(s)Fund name: The Children’s Investment Master FundInception date: Not disclosedAUM: Not disclosedPortfolio manager: Chris HohnStrategy: ActivistAsset classes: Not disclosedDomicile: Not disclosed
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
24
Egerton Capital
1Total AUM (as at 30.06.13)$5.1bn
2 2012 ranking28
3Founded1994
4Founders/principalsJohn Armitage (Founder & CIO)
5Hedge fund(s)Fund name: Egerton Long-Short Master Fund LimitedInception date: 09/1994AUM: $3.51bnPortfolio manager: John ArmitageStrategy: Equity long/shortAsset classes: EquitiesDomicile: Cayman Islands
Fund name: Schroder GAIA Egerton Equity FundInception date: 11/2009AUM: $1.45bnPortfolio manager: John ArmitageStrategy: Equity long/shortAsset classes: EquitiesDomicile: Luxembourg
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUM$1.45bn
7bUCITS-compliant fundsSchroder GAIA Egerton Equity Fund
EUROPE50
7
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
26
Cantab Capital Partners
1Total AUM (as at 30.06.13)$4.6bn
2 2012 ranking31
3Founded2006
4Founders/principalsDr Ewan Kirk, Erich Schlaikjer, Chris Pugh, Dr Tom Howat, Dr Genia Diamond, Dr Matthew Killeya
5Hedge fund(s)Fund name: CCP Quantitative FundInception date: 03/2007AUM: $2.6bnPortfolio manager: Cantab CapitalStrategy: Managed futures/CTAAsset classes: Futures, FX forwardsDomicile: Cayman Islands
Fund name: CCP Core Macro FundInception date: 01/2013AUM: $320.0mPortfolio manager: Cantab CapitalStrategy: Managed futures/CTAAsset classes: Futures, FX forwardsDomicile: Cayman Islands
6Dedicated managed accounts AUM$1.7bn
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
27
Chenavari
1Total AUM (as at 30.06.13)$3.92bn
2 2012 ranking-
3Founded2008
4Founders/principalsLoic Fery and Frederic Couderc (co-Founders and co-CIO's)
5Hedge fund(s)Fund name: Chenavari Multi Strategy - MS2Inception date: 02/2012AUM: Not disclosedPortfolio manager: L.Fery, F. Couderc, B.Pellegrini, S.GharredStrategy: Not disclosedAsset classes: Not disclosedDomicile: Cayman Islands
Fund name: Chenavari Corporate Credit strategy - A1Inception date: 10/2008AUM: Not disclosedPortfolio manager: S. Gharred, M. Meslemani, A. Malik, D.Brasil, S.Parlebas, M.Beurel Diamant Strategy: Not disclosedAsset classes: Not disclosedDomicile: Cayman Islands
Fund name: Chenavari Real Estate Debt strategy - R2Inception date: 11/2011AUM: Not disclosedPortfolio manager: S. Mellor, A. HainesStrategy: Not disclosedAsset classes: Not disclosedDomicile: Cayman Islands
Fund name: Chenavari Regulatory Capital strategy - D1Inception date: 05/2011AUM: Not disclosedPortfolio manager: H.Tissier de Mallerais and D.TurnerStrategy: Not disclosedAsset classes: Not disclosedDomicile: Cayman Islands
Fund name: Chenavari Toro Capital IAInception date: 06/2009 AUM: Not disclosedPortfolio manager: B. Pellegrini, F. Couderc, D. TurnerStrategy: Not disclosedAsset classes: Not disclosedDomicile: Luxembourg
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMNot disclosed
7bUCITS-compliant fundsNot disclosed
25
AKO Capital
1Total AUM (as at 30.06.13)$5.0bn (est.)
2 2012 ranking-
3Founded2005
4Founders/principalsNicolai Tangen (CIO and CEO)
5Hedge fund(s)Not disclosed
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMNot disclosed
7bUCITS-compliant fundsNot disclosed
EUROPE50
8
28
Arrowgrass Capital Partners LLP
1Total AUM (as at 30.06.13)$3.89bn
2 2012 ranking29=
3Founded2008
4Founders/principalsNick Niell, Henry Kenner, Chris Wehbé, Andrew Billett, Michael Chung, Michael Edwards, Peter Darrell, Aidan de Brunner and Darren Rodohan
5Hedge fund(s)Fund name: Arrowgrass Master Fund LtdInception date: 02/2008AUM: $3.84bnPortfolio manager: Nick NiellStrategy: European-focused multi-strategyAsset classes: Not disclosed Domicile: Cayman Islands
Fund name: Arrowgrass Distressed Opportunities Fund LtdInception date: 07/2008AUM: $114.02mPortfolio manager: Michael ChungStrategy: European-focused distressedAsset classes: Not disclosed Domicile: Cayman Islands
Fund name: Arrowgrass Equity Focus Fund LtdInception date: 05/2009AUM: $45.93mPortfolio manager: Andrew BillettStrategy: European equity long/shortAsset classes: Not disclosed Domicile: Cayman Islands
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
EUROPE50
9
30
Odey Asset Management
1Total AUM (as at 30.06.13)$3.6bn
2 2012 ranking42=
3Founded1991
4Founders/principalsCrispin Odey, David Fletcher
5Hedge fund(s)Fund name: Odey European IncInception date: 06/1992AUM: $2.04bnPortfolio manager: Crispin OdeyStrategy: Capital appreciationAsset classes: Equities, commodities, bonds, currencyDomicile: Cayman Islands
Fund name: CF Odey Absolute Return Inception date: 05/2009AUM: $1.02bnPortfolio manager: James HanburyStrategy: Absolute returnAsset classes: Equities, commodities, bonds, currencyDomicile: UK
Fund name: OEI Mac IncInception date: 02/1994AUM: $842.57mPortfolio manager: Crispin OdeyStrategy: Long-term cap, currenciesAsset classes: Equities, commodities, bonds, currencyDomicile: Cayman Islands
Fund name: Odey Swan FundInception date: 03/2013AUM: $194.38mPortfolio manager: Crispin OdeyStrategy: Capital appreciation Asset classes: Equities, commodities, bonds, currencyDomicile: Ireland
Fund name: Odey Odyssey FundInception date: 07/2012AUM: $141.83mPortfolio manager: Tim BondStrategy: Long-term capital growth Asset classes: Equities, commodities, bonds, currencyDomicile: Ireland
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUM$1.52bn
7bUCITS-compliant fundsOdey Giano fundOdey Absolute Return fundOdey Odyssey fundOdey Swan fundOdey Naver fundOdey Orion fund
32
Lombard Odier
1Total AUM (as at 30.06.13)$3.14bn
2 2012 ranking36=
3Founded11/2007
4Founders/principalsHubert Keller
5Hedge fund(s)Fund name: 1798 Fundamental Strategies Fund LtdInception date: 11/2007AUM: $1.13bnPortfolio manager: Steven Bulko (CIO)Strategy: Fundamentally-driven, equity-focused long/short fundAsset classes: Hedge fundsDomicile: Cayman Islands
Fund name: 1798 AOG Energy FundInception date: 12/2009AUM: $511.00mPortfolio manager: Martin FischStrategy: Investing across capital structure of energy companiesAsset classes: Hedge fundsDomicile: Luxembourg
Fund name: 1798 Consumer Equity Long/ShortInception date: 05/2012AUM: $486.00m (includes two managed accounts)Portfolio manager: Bryan MattsonStrategy: Consumer focused equity long/short strategy (across 2 broad sub-sectors: consumer discretionary and consumer staples)Asset classes: Hedge fundsDomicile: Luxembourg
Fund name: 1798 US Special SituationsInception date: 05/2010AUM: $277.00m (includes one managed account)Portfolio manager: Gary LehrmanStrategy: Portfolio of North American event-driven credit and equity situations investing in all layers of the capital structureAsset classes: Hedge fundsDomicile: Luxembourg
Fund name: LO Funds – Tactical AlphaInception date: 01/2010AUM: $274.00mPortfolio manager: Gregor MacIntoshStrategy: Implements tactical overlay strategies by taking long & short positions on various asset classes with a global macro focus exploiting three time horizons and five different alpha sourcesAsset classes: Asset allocationDomicile: Luxembourg
6Dedicated managed accounts AUM$278.0m
7aUCITS-compliant hedge fund AUM$601.0m (excludes assets in the non-UCITS LOF II – Total Return Bond fund)
7bUCITS-compliant fundsLO Funds - 1798 Europe Equity Long/ShortLO Funds – Tactical AlphaLO Funds – Total Return BondLO Funds – Asia Absolute Return
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
29
Insight Investment
1Total hedge fund AUM (as at 30.06.13)$3.63bn
2 2012 ranking34
3Founded2002
4Founders/principalsNot disclosed
5Hedge fund(s)Fund name: Absolute Insight Equity Market Neutral Fund Inception date: 02/2007 AUM: $1.26bn Portfolio manager(s): Andrew Cawker, Richard Howarth, Iain Brown, David Headland, Matthew CookeStrategy: UK/Europe equities Asset classes: Equities, equity derivatives, liquid/near cash assets Domicile: Ireland
Fund name: Absolute Insight (multi-strategy) Fund Inception date: 02/2007 AUM: $784.7m Portfolio manager(s): Reza Vishkai, Sonja UysStrategy: Multi-strategy Asset classes: UCITS absolute return funds Domicile: UK
Fund name: Absolute Insight Emerging Market Debt Fund Inception date: 02/2007 AUM: $732.3m Portfolio manager(s): Colm McDonagh Strategy: Emerging markets Asset classes: Emerging market debt, derivatives, interest rate, exchange rate instruments Domicile: Ireland
Fund name: Absolute Insight Credit Fund Inception date: 06/2009 AUM: $641.2m Portfolio manager(s): Alex Veroude Strategy: Multi-strategy Asset classes: Corporate debt, structured credit, derivatives Domicile: Ireland
Fund name: BNY Mellon Absolute Return Equity FundInception date: 01/2011 AUM: $574.4m Portfolio manager(s): Andrew Cawker, Richard Howarth, Iain Brown, David Headland, Matthew CookeStrategy: UK equitiesAsset classes: Equities, equity derivatives, liquid/near cash assetsDomicile: Ireland
6Dedicated managed accounts AUM$200.8m
7aUCITS-compliant hedge fund AUM$3.63bn
7bUCITS-compliant fundsAbsolute Insight Equity Market Neutral FundAbsolute Insight Credit FundAbsolute Insight Emerging Market Debt FundAbsolute Insight Currency Fund
31
Exane Asset Management
1Total AUM (as at 30.06.13)$3.33bn
2 2012 ranking32=
3Founded2001
4Founders/principalsPhilippe Sanlaville
5Hedge fund(s)Fund name: Exane Pleiade 5 FundInception date: 03/2006AUM: $656.38mPortfolio manager: Hervé Ragagnon, Muriel d’AmbrosioStrategy: Long/short market neutral equityAsset classes: Long/short equityDomicile: France
Fund name: Exane Ceres FundInception date: 02/2007AUM: $525.81mPortfolio manager: Charles-Henri NêmeStrategy: Long/short market neutral equityAsset classes: Media, retail consumerDomicile: Luxembourg
Fund name: Exane Archimedes FundInception date: 09/2006AUM: $463.24mPortfolio manager: Gilles Lenoir, César ZeitouniStrategy: Long/short market neutral equityAsset classes: Technology, telecommunications, utilitiesDomicile: Luxembourg
Fund name: Exane Templiers FundInception date: 03/2006AUM: $294.20mPortfolio manager: Jean-François Roussel, Henri-Daniel Samama, Julien SebbanStrategy: Long/short market neutral equityAsset classes: Financials, basic resourcesDomicile: Luxembourg
Fund name: Exane Gulliver FundInception date: 10/2001AUM: $287.54mPortfolio manager: Gilles Meshaka, Alexandre DergatcheffStrategy: Long/short market neutral equityAsset classes: Large caps (Europe)Domicile: France
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUM$2.40bn
7bUCITS-compliant fundsExane Ceres FundExane Archimedes FundExane Templiers FundExane Gulliver Fund
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
34
BlueBay Asset Management
1Total AUM (as at 30.06.13)$2.9bn
2 2012 ranking41
3Founded2001
4Founders/principalsHugh Willis (CEO), Mark Poole (CIO)
5Hedge fund(s)Fund name: BlueBay Macro FundInception date: 11/2009AUM: $1.2bnPortfolio manager: Neil Phillips, Jonathan FaymanStrategy: Global macroAsset classes: EM focus, FX and ratesDomicile: Cayman Islands
Fund name: BlueBay Emerging Market Corporate Alpha FundInception date: 11/2011AUM: $188.0mPortfolio manager: Polina Kurdyavko, Anthony KettleStrategy: Emerging market corporate debtAsset classes: EM corporatesDomicile: Cayman Islands
Fund name: BlueBay Emerging Market Opportunity FundInception date: 06/2007AUM: $114.0mPortfolio manager: David Dowsett, Rodrigo Da FonsecaStrategy: Emerging market debtAsset classes: Sovereign, local currency, corporate creditDomicile: Luxembourg
Fund name: BlueBay Emerging Market Absolute Return Bond FundInception date: 07/2010AUM: $196.0mPortfolio manager: David Dowsett, Rodrigo da FonsecaStrategy: Emerging market debtAsset classes: Sovereign, local currency, corporate creditDomicile: Luxembourg
Fund name: BlueBay Credit Alpha Long Short FundInception date: 11/2011AUM: $187.0mPortfolio manager: Geraud Charpin, Thomas MouldsStrategy: Investment grade debtAsset classes: Sovereign and corporate creditDomicile: Cayman Islands
6Dedicated managed accounts AUM$443.0m
7aUCITS-compliant hedge fund AUM$196.0m
7bUCITS-compliant fundsBlueBay Emerging Market Absolute Return Bond Fund
35
Spinnaker Capital
1Total AUM (as at 30.06.13)$2.87bn
2 2012 ranking27
3Founded1999
4Founders/principalsAlexis Habib, Claude Marion, Bradley Wickens, Jorge Rosas
5Hedge fund(s)Fund name: Spinnaker Global Emerging Markets Fund (SGEM) Inception date: 12/2000AUM: $1.32bnPortfolio manager: Bradley WickensStrategy: Emerging markets multi-strategyAsset classes: Credit, equity, FX, ratesDomicile: BVI
Fund name: Spinnaker Global Opportunity Fund (SGO) Inception date: 02/2001AUM: $1.02bnPortfolio manager: Jorge Rosas Strategy: Emerging markets macroAsset classes: FX, rates, credit, equityDomicile: BVI
Fund name: Spinnaker Global Special Situations Fund (SGSS)Inception date: 03/2013AUM: $286m Portfolio manager: Spinnaker Global Investment Committee Strategy: Emerging markets distressed, special situationsAsset classes: Credit, equityDomicile: Cayman Islands
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMNot disclosed
7bUCITS-compliant fundsNot disclosed
33
IPM Informed Portfolio Management
1Total AUM (as at 30.06.13)$3.1bn
2 2012 ranking26
3Founded1998
4Founders/principalsAnders Lindell, Lars Ericsson
5Hedge fund(s)Fund name: IPM Systematic Macro (Cayman)Inception date: 07/2006AUM: $117.0mPortfolio manager: Systematic Investment ProcessStrategy: Global MacroAsset classes: Equities, bonds, currenciesDomicile: Cayman Islands
Fund name: IPM Systematic CurrencyInception date: 04/2005AUM: $92.0mPortfolio manager: Systematic Investment ProcessStrategy: Global macroAsset classes: CurrenciesDomicile: Cayman Islands
6Dedicated managed accounts AUM$2.83bn
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
36
Edesia Asset ManagementFormely Louis Dreyfus Investment Group (Commodities)
1Total AUM (as at 30.06.13)$2.7bn
2 2012 ranking36= (as Louis Dreyfus Investment Group)
3Founded2008
4Founders/principalsIan McIntosh
5Hedge fund(s)Fund name: LD Commodities Alpha FundInception date: 11/2008AUM: $1.7bnPortfolio manager: Ian McIntosh, Richard Allen, Vincent Carenso, Simon Proctor, James Gatehouse, Peter SandlerStrategy: Long/shortAsset classes: CommoditiesDomicile: Cayman Islands with onshore/offshore feeders
Fund name: LD Commodities Alpha 2X FundInception date: 04/2010AUM: $260.0mPortfolio manager: Ian McIntosh, Richard Allen, Vincent Carenso, Simon Proctor, James Gatehouse, Peter SandlerStrategy: Long/shortAsset classes: CommoditiesDomicile: Cayman Islands with onshore/offshore feeders
Fund name: LD Commodities Dynamic Agriculture FundInception date: 05/2012AUM: $40.0mPortfolio manager: Ian McIntosh, Jake StoneStrategy: Long biasAsset classes: CommoditiesDomicile: Cayman Islands with onshore/offshore feeders
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
EUROPE50
10
EUROPE50
11
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
40
SEB Asset Management
1Total AUM (as at 30.06.13)$2.39bn
2 2012 ranking38
3Founded1856
4Founders/principalsNot disclosed
5Hedge fund(s)Fund name: SEB Asset Selection FundInception date: 10/2006AUM: $975.00mPortfolio manager: Hans-Olov BornemannStrategy: Managed futures/CTAAsset classes: Equities, fixed income, foreign exchangeDomicile: Luxembourg
Fund name: SEB Räntehedge AlphaInception date: 05/2006AUM: $781.06mPortfolio manager: Stefan DaberiusStrategy: Fixed income, relative valueAsset classes: Fixed income, FXDomicile: Finland
Fund name: SEB Hedge Fixed IncomeInception date: 04/2001AUM: $243.63mPortfolio manager: Stefan DaberiusStrategy: Fixed income, relative valueAsset classes: Fixed income, FXDomicile: Sweden
Fund name: SEB SelectInception date: Fund vehicle 03/2007 (Strategy 10/2010)AUM: $192.63mPortfolio manager: Mårten GabrielssonStrategy: Fund of fundsAsset Class: Multi-strategyDomicile: Luxembourg
Fund name: SEB Credit Multi StrategyInception date: 11/2009 (UCITS IV 07/2013)AUM: $ 113.51mPortfolio manager: Thomas KristianssonStrategy: Absolute return – multi-strategyAsset classes: CreditsDomicile: Luxembourg
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUM$1.32bn
7bUCITS-compliant fundsSEB Asset SelectionSEB Asset Selection DefensiveSEB Asset Selection OpportunisticSEB Asset Selection OriginalSEB Credit Multi StrategySEB Select
38
Pharo Management
1Total AUM (as at 01.07.13)$2.45bn
2 2012 ranking35
3Founded2000
4Founders/principalsGuillaume Fonkenell, Michael Skarbinski, Jeff Hanlon, Marcelo Castro
5Hedge fund(s)Fund name: Pharo Trading Fund, Ltd.Inception date: 12/2000AUM: $211.49m*Portfolio manager: Guillaume FonkenellStrategy: Emerging markets across a range of asset classesAsset classes: Foreign exchange, credit, interest rates, commodities, volatilityDomicile: Cayman Islands
Fund name: Pharo Macro Fund, Ltd.Inception date: 05/2005AUM: $2.17bn*Portfolio manager: Guillaume Fonkenell, Michael Skarbinski, Marcelo Castro and teamStrategy: Emerging markets across a range of asset classes Asset classes: Foreign exchange, credit, interest rates, commodities, volatilityDomicile: Cayman Islands
Fund name: Pharo Gaia Fund, Ltd.Inception date: 12/2008AUM: $43.71m*Portfolio manager: Guillaume Fonkenell, Michael Skarbinski, Marcelo Castro and teamStrategy: Emerging markets across a range of asset classes Asset classes: Foreign exchange, credit, interest rates, commodities, equities, volatilityDomicile: Cayman Islands
Fund name: Pharo Africa Fund, Ltd.Inception date: 02/2013AUM: $19.99m*Portfolio manager: Guillaume Fonkenell, Michael Skarbinski, Marcelo Castro and teamStrategy: African markets across a range of asset classesAsset classes: Foreign exchange, credit, interest rates, commodities, equities, volatilityDomicile: Cayman Islands
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMNot disclosed
7bUCITS-compliant fundsNot disclosed
*As at 01.07.2013
37
COMAC
1Total AUM (as at 30.06.13)$2.50bn
2 2012 ranking23
3Founded2005
4Founders/principalsColm O’Shea (Founding Partner and CIO)
5Hedge fund(s)Fund name: COMAC Master Fund LimitedInception date: 06/2006AUM: $2.50bnPortfolio manager: Colm O’SheaStrategy: Global macroAsset classes: Not disclosed Domicile: Cayman Islands
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
39
Pictet Asset Management
1Total AUM (as at 30.06.13)$2.4bn
2 2012 ranking-
3FoundedPictet was founded in 1805. Pictet Asset Management (PAM) managed its first institutional mandate in 1967.
4FoundersRenaud de Planta, Rémy Best
5Hedge fund(s)Fund name: PTR-KosmosInception date: 06/2011AUM: $858.0mPortfolio manager: Kazik Swiderski, Raymond SagayamStrategy: Long/short credit global investment gradeAsset classes: CreditDomicile: Luxembourg
Fund name: The Alphanatics FundInception date: 08/2004AUM: $449.0mPortfolio manager: Not disclosedStrategy: Multi-strategy market neutralAsset classes: Multi-assetDomicile: Cayman Islands
Fund name: PTR-BanyanInception date: 11/2011AUM: $188.0mPortfolio manager: Nidhi MahurkarStrategy: Long/short equity Asia ex-JapanAsset classes: EquityDomicile: Luxembourg
Fund name: PTR-Corto EuropeInception date: 04/2010AUM: $128.0mPortfolio manager: Nils Francke, Philippe SarreauStrategy: Long/short equity, European mid capAsset classes: EquityDomicile: Luxembourg
Fund name: Mandarin Offshore Fund LtdInception date: 01/2007AUM: $99.0mPortfolio manager: Lan Wang SimondStrategy: Long/short equity Greater ChinaAsset classes: EquityDomicile: BVI
6Dedicated managed accounts AUM$103.80
7aUCITS-compliant hedge fund AUM$1.67bn
7bUCITS-compliant fundsPTR-Corto EuropePTR-MandarinPTR-Kosmos PTR-Banyan
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
44
Tyrus Capital
1Total AUM (as at 30.06.13)$1.98bn
2 2012 ranking40
3Founded2009
4Founders/principalsTony Chedraoui
5Hedge fund(s)Fund name: Tyrus Capital Event FundInception date: 10/2009AUM: $1.17bnPortfolio manager: Tony ChedraouiStrategy: Event drivenAsset classes: EquitiesDomicile: Cayman Islands
Fund name: Tyrus Capital Opportunities FundInception date: 04/2011AUM: $811mPortfolio manager: Tony ChedraouiStrategy: Event drivenAsset classes: EquitiesDomicile: Cayman Islands
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
41
Prologue Capital
1Total AUM (as at 30.06.13)$2.30bn
2 2012 ranking48
3Founded2006
4Founders/principalsDavid Lofthouse, Graham Walsh
5Hedge fund(s)Fund name: Prologue Fund LP (Cayman Master Fund)Inception date: 02/2006AUM: $2.30bnPortfolio manager: David Lofthouse, Graham Walsh, Barry Piafsky.Strategy: Global fixed incomeAsset classes: Sovereign debt, FX and MBS Domicile: Cayman Islands master fund with Cayman Islands feeder and Delaware feeder
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
42=
GSA Capital
1Total AUM (as at 01.07.13)$2.0bn
2 2012 ranking-
3Founded2005
4Founders/principalsJonathan Hiscock
5Hedge fund(s)Fund name: GSA Capital International FundInception date: 03/2005AUM: $1.43bnPortfolio manager: David Khabie-ZeitouneStrategy: Systematic multi-strategyAsset classes: $/£/€Domicile: Cayman Islands, Delaware (limited partnership feeder fund)
Fund name: GSA QFFInception date: 05/2011AUM: $676mPortfolio manager: Jonathan HiscockStrategy: Systematic directional tradingAsset classes: $/£/€Domicile: Cayman Islands, Delaware (limited partnership feeder fund)
Fund name: GSA Alpha FundInception date: 07/2008AUM: $461mPortfolio manager: David Khabie-ZeitouneStrategy: Systematic equity market-neutralAsset classes: $/£/€Domicile: Cayman Islands, Delaware (limited partnership feeder fund)
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
42=
Theleme Partners
1Total AUM (as at 30.06.13)$2.0bn (est.)
2 2012 ranking-
3Founded2009
4Founders/principalsPatrick Degorce
5Hedge fund(s)Not disclosed
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMNot disclosed
7bUCITS-compliant fundsNot disclosed
EUROPE50
12
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
46
Boussard & Gavaudan
1Total AUM (as at 31.03.13*)$1.72bn
2 2012 ranking49
3Founded2002
4Founders/principalsEmmanuel Boussard, Emmanuel Gavaudan
5Hedge fund(s)Fund name: Boussard & Gavaudan FundInception date: 03/2003AUM: $1.50bnPortfolio manager: Emmanuel Boussard, Emmanuel GavaudanStrategy: Multi-strategyAsset classes: Europe – equity, credit, volatilityDomicile: Ireland
6Dedicated managed accounts AUMNot disclosed
7aUCITS-compliant hedge fund AUMNot disclosed
7bUCITS-compliant fundsNot disclosed
47
Jabre Capital
1Total AUM (as at 30.06.13)$1.60bn
2 2012 ranking42=
3Founded2006
4Founders/principalsPhilippe Jabre, Philippe Riachi, Mark Cecil
5Hedge fund(s)Fund name: JABCAP Multi-Strategy FundInception date: 02/2007AUM: $502.0mPortfolio manager: Philippe JabreStrategy: Multi-strategyAsset classes: USD, EUR, CHF, GBPDomicile: Cayman Islands
Fund name: JABCAP Global Balanced FundInception date: 05/2007AUM: $440.0mPortfolio manager: Philippe JabreStrategy: EquityAsset classes: USD, EUR, CHF, GBPDomicile: Cayman Islands
Fund name: JABCAP Global Convertible FundInception date: 05/2007AUM: $300.0mPortfolio manager: Philippe Jabre, Jan-Hinnerk RichterStrategy: Convertible bondsAsset classes: USD, EUR, GBPDomicile: Cayman Islands
Fund name: JABCAP EMEA FundInception date: 10/2008AUM: $254.0mPortfolio manager: Carl TohmeStrategy: Emerging marketsAsset classes: USD, EUR, CHF, GBPDomicile: Cayman Islands
Fund name: JABCAP Event Driven FundInception date: 11/2010AUM: $38.0mPortfolio manager: Ziad TabetStrategy: Event drivenAsset classes: USD, EUR, CHFDomicile: Cayman Islands
6Dedicated managed accounts AUM$54.0m
7aUCITS-compliant hedge fund AUM$55.0m
7bUCITS-compliant fundsJABCAP (LUX) Global Balanced FundJABCAP (LUX) Convertible Bonds Fund
45
Finisterre Capital
1Total AUM (as at 30.06.13)$1.8bn
2 2012 ranking47
3Founded2002
4Founders/principalsPaul Crean, Frode Foss-Skiftesvik, Yan Swiderski, Rafael Biosse Duplan, Xavier Corin-Mick
5Hedge fund(s)Fund name: Finisterre Sovereign Debt FundInception date: 04/2003AUM: $783.0mPortfolio manager: Xavier Corin-Mick, Paul Crean, Vadim SobolevskiStrategy: Emerging markets debt long/shortAsset classes: Top-down macro, liquid instruments (external sovereign debt & FX)Domicile: Cayman Islands
Fund name: Finisterre Credit FundInception date: 07/2007AUM: $530.3mPortfolio manager: Rafael Biosse Duplan, Rahul Sharma and Alex WilliamsonStrategy: Credit long/shortAsset classes: Bottom-up creditDomicile: Cayman Islands
Fund name: Finisterre Global Opportunity FundInception date: 04/2006AUM: $380.0mPortfolio manager: Yan Swiderski, Darren Walker, Sirushe Hewazy, Devin LoStrategy: Emerging markets long/shortAsset classes: Top-down macro/multi-strategyDomicile: Cayman Islands
6Dedicated managed accounts AUMN/A
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
48
Amplitude Capital
1Total AUM (as at 30.06.13)$1.54bn
2 2012 ranking-
3Founded08/2004
4Founders/principalsKarsten Schroeder, Peter Voss, Steffen Bendel, John Harrison 5Hedge fund(s)Fund name: Amplitude Dynamic Trading FundInception date: 06/2005AUM: $970.0mPortfolio manager: Karsten SchroederStrategy: Short-term CTAAsset classes: All asset classesDomicile: Cayman Islands
Fund name: Amplitude Sinfonie FundInception date: 09/2009AUM: $848.3mPortfolio manager: Karsten SchroederStrategy: Short-term CTAAsset classes: All asset classesDomicile: Cayman Islands
Fund name: Amplitude Klassik FundInception date: 09/2009AUM: $573.0mPortfolio manager: Karsten SchroederStrategy: Short-term CTAAsset classes: All asset classesDomicile: Cayman Islands
6Dedicated managed accounts AUM$1.5bn
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
EUROPE50
13
12 345 6 7a 7b
Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds
KEY
49=
Armajaro
1Total AUM (as at 30.06.13)$1.5bn
2 2012 ranking-
3Founded07/2002
4Founders/principalsAnthony Ward, Richard Gower
5Hedge fund(s)Fund name: Armajaro Commodities FundInception date: 04/2004AUM: Not disclosedPortfolio manager: John TilneyStrategy: DiscretionaryAsset classes: CommoditiesDomicile: Cayman Islands
Fund name: CC+ FundInception date: 10/2007AUM: Not disclosedPortfolio manager: Anthony WardStrategy: DiscretionaryAsset classes: CommoditiesDomicile: Cayman Islands
Fund name: Armajaro Emerging Markets FundInception date: 08/2009AUM: Not disclosedPortfolio manager: Michel DanechiStrategy: DiscretionaryAsset classes: Long/short equityDomicile: Cayman Islands
Fund name: STS Commodities FundInception date: 01/2010AUM: Not disclosedPortfolio manager: Will GriffinStrategy: Trend-following systematicAsset classes: CommoditiesDomicile: Cayman Islands
Fund name: Armajaro Global Financials FundInception date: 10/2012AUM: Not disclosedPortfolio manager: Peter Walters, Mark EadyStrategy: DiscretionaryAsset classes: Long/short equityDomicile: Cayman Islands
6Dedicated managed accounts AUM$1.5bn
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
49=
Sloane Robinson
1Total AUM (as at 30.06.13)$1.5bn
2 2012 ranking32=
3Founded1993
4Founders/principalsHugh Sloane, George Robinson, Richard Chenevix-Trench, Ed Butchart, David Gale
5Hedge fund(s)Fund name: SR Global Fund (Class C) InternationalInception date: 01/1994AUM: $510.0mPortfolio manager: Hugh SloaneStrategy: Long/shortAsset classes: EquityDomicile: Cayman Islands
Fund name: SR Global Fund (Class G) Global OpportunitiesInception date: 03/1996 although re-mandated from Emerging Markets to Global Opportunities at the start of 2013AUM: $415.0mPortfolio manager: Richard Chenevix-TrenchStrategy: Long/shortAsset classes: EquityDomicile: Cayman Islands
Fund name: SR PhoeniciaInception date: 08/2001AUM: $130.0mPortfolio manager: Richard AthertonStrategy: Long/shortAsset classes: EquityDomicile: Cayman Islands
Fund name: SR Global Fund (Class H) JapanInception date: 10/2003AUM: $80.0mPortfolio manager: Alex Kydd, Hugh SloaneStrategy: Long/shortAsset classes: EquityDomicile: Cayman Islands
Fund name: SR Global Fund (Class N) Emerging Market EquityInception date: 01/2013AUM: $20.0mPortfolio manager: Ed Butchart, CJ MorrellStrategy: Long/shortAsset classes: EquityDomicile: Cayman Islands
6Dedicated managed accounts AUM$340.0m
7aUCITS-compliant hedge fund AUMN/A
7bUCITS-compliant fundsN/A
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EUROPE50
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