Alpha's announcement of the
2009 Europe Hedge Fund 50 shows that Europe was not immune to investor
angst over hedge funds. A wave of investor withdrawals shapes the
magazine's annual ranking of the 50 biggest European single-manager hedge
fund firms, as total assets fell to $285 billion as of January 1, 2009,
from $405 billion a year earlier, a 30 percent drop.
Europe's hedge fund business may be looking at an encouraging longer-term
picture, however. The region boasts five of the world's 20 biggest hedge
fund firms -- led by two London-based powerhouses, Brevan Howard Asset
Management and Man Investments.
Brevan Howard's total assets surged from $21 billion at the end of 2007 to
$26.8 billion when this year began, elevating the firm from third to first
Alpha's 2009 Europe Hedge Fund 50. Man Investments had a similarly
strong year; its overall assets grew from $20.9 billion to $24.4 billion,
lifting the firm two rungs to second place.
The two top European hedge fund firms in last year's ranking have been
taken down a few notches. Barclays Global Investors falls from No. 1 to No.
3, and GLG Partners drops from No. 2 to No. 8; the firms saw their assets
drop, respectively, 35 percent and 52 percent.
Alpha's Europe Hedge Fund Top 5
Rank Firm Total Capital ($ millions)
1 Brevan Howard Asset Management $26,840
2 Man Investments 24,400
3 Barclays Global Investors 17,000
4 BlueBay Asset Management 16,700
5 Bluecrest Capital Management 13,273
Alpha's 2009 Europe Hedge Fund 50 to view the complete rankings of all
50 firms, as well as performance and asset size information for their
funds, or visit www.alphamagazine.com.
How the Ranking Was Compiled
Alpha's 2009 Europe Hedge Fund 50, data was gathered through
questionnaires completed by hedge fund managers, supplemented by extensive
Alpha staff research. We provide each manager's total assets under
management as of January 1, 2009, unless otherwise indicated. Where
possible, we also show assets at the individual fund level, with 2008 net
returns, for the five biggest funds run by a firm.