Key Takeaways
- • Pensions & Investments published a ranking table of top-performing hedge funds as of February 2009, a period marked by significant market volatility and fund performance divergence during the global financial crisis.
- • The ranking methodology focused on discretionary assets managed in hedge funds worldwide, providing institutional investors with a performance-based comparison tool for due diligence and manager selection.
- • Leading hedge fund managers identified in supplemental performance data include Greenoaks Capital Partners (636.59% three-year performance, $3B AUM), Redwood Capital Management (318.26% three-year return, $934M AUM), and Octahedron Capital Management (288.69% three-year performance, $147M AUM).
- • Major hedge fund platforms identified by asset scale include Bridgewater Associates, Millennium Management, Elliott Management, Citadel, Man Group, D.E. Shaw Group, and AQR Capital Management as among the world's largest managers.
- • The ranking table serves as a starting point for institutional investors conducting comparative due diligence, manager engagement discussions, and alternative investment allocation decisions.
Summary
Pensions & Investments published a comprehensive ranking of top-performing hedge funds, presenting discretionary assets managed in hedge funds worldwide. The table, published in February 2009, offered institutional investors—including pension funds, family offices, and alternative investment professionals—a structured framework for evaluating hedge fund manager performance during a period of acute market stress.
The ranking highlighted substantial performance divergence across the hedge fund industry during the 2006–2009 period. Performance leaders included Greenoaks Capital Partners, which delivered 636.59% cumulative three-year returns (94.57% annualized) on $3 billion in assets under management. Redwood Capital Management, under manager Jonathan Kolatch, achieved 318.26% three-year returns (61.12% annualized) with $934 million in AUM. Octahedron Capital Management and RV Capital AG, managed by Rob Vinall, posted 288.69% and 279.35% three-year returns respectively, with $147 million and $430 million in assets.
The broader universe of largest hedge fund managers by asset scale included established platforms such as Bridgewater Associates, Millennium Management, Elliott Management, Citadel, Man Group, D.E. Shaw Group, and AQR Capital Management. These institutions represented the institutional backbone of the alternative investment industry, with combined assets representing a material portion of global hedge fund capital.
The Pensions & Investments ranking table was designed to serve as a comparative tool enabling institutional investors to conduct manager due diligence, compare performance metrics and asset bases, and inform allocation decisions regarding alternative investment exposures. During the 2008–2009 period, such comparative analysis was particularly valuable given marked performance dispersion driven by manager strategy, leverage, and exposure management during the financial crisis.
The ranking highlighted substantial performance divergence across the hedge fund industry during the 2006–2009 period. Performance leaders included Greenoaks Capital Partners, which delivered 636.59% cumulative three-year returns (94.57% annualized) on $3 billion in assets under management. Redwood Capital Management, under manager Jonathan Kolatch, achieved 318.26% three-year returns (61.12% annualized) with $934 million in AUM. Octahedron Capital Management and RV Capital AG, managed by Rob Vinall, posted 288.69% and 279.35% three-year returns respectively, with $147 million and $430 million in assets.
The broader universe of largest hedge fund managers by asset scale included established platforms such as Bridgewater Associates, Millennium Management, Elliott Management, Citadel, Man Group, D.E. Shaw Group, and AQR Capital Management. These institutions represented the institutional backbone of the alternative investment industry, with combined assets representing a material portion of global hedge fund capital.
The Pensions & Investments ranking table was designed to serve as a comparative tool enabling institutional investors to conduct manager due diligence, compare performance metrics and asset bases, and inform allocation decisions regarding alternative investment exposures. During the 2008–2009 period, such comparative analysis was particularly valuable given marked performance dispersion driven by manager strategy, leverage, and exposure management during the financial crisis.
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