Top 100 Credit Hedge Funds 2026

The 100 largest Credit Hedge Funds manage approximately $1.98 trillion in combined assets as of 2026, up 5.4% from 2025.

Ares Management leads the rankings at $319B in AUM, based in Los Angeles. Angelo Gordon & Co. ranks second at $100B, followed by Bracebridge Capital at $85B.

United States is the most represented location with 76% of the top 100 funds.

There are 4 new entrants to the top 100 in 2026 and 4 funds that dropped off compared to 2025.

Total AUM — Top 100 Credit Hedge Funds 2026

Country Distribution

$1.98T
Total AUM
+5.4%
YoY Change
$19.8B
Average AUM
76%
Based in United States

Top 100 Credit Hedge Funds 2026

Ranked by assets under management (AUM). Click any column to sort. Fund names link to detailed profiles.

RankΔFund NameCityCountryAUM ($M)
1—Ares ManagementLos AngelesUnited States318,747.7
2▴2Angelo Gordon & Co.New YorkUnited States100,050.7
3▴3Bracebridge CapitalBostonUnited States84,739.2
4▾1Cerberus Capital ManagementNew YorkUnited States84,094.6
5▾3Capula Investment Management LLPLondonUnited Kingdom78,323.8
6▴8III CapitalBoca RatonUnited States55,300.5
7▴1Och-Ziff Capital ManagementNew YorkUnited States44,025.8
8▴1GoldenTree Asset ManagementNew YorkUnited States43,734.3
9▾2Davidson Kempner Capital ManagementNew YorkUnited States41,633.1
10▾5Element Capital ManagementNew YorkUnited States40,030.5
11▾1Oaktree Capital ManagementLos AngelesUnited States38,350.0
12▴6Silver Point CapitalGreenwichUnited States37,087.2
13▾1Centerbridge Partners LPNew YorkUnited States37,035.7
14▾3Symmetry InvestmentsHong KongHong Kong36,435.0
15▴5Field Street Capital ManagementNew YorkUnited States36,005.8
16▾3Apollo CapitalNew YorkUnited States32,680.0
17▾1King Street Capital ManagementNew YorkUnited States32,316.1
18▾3Cheyne CapitalLondonUnited Kingdom28,969.1
19▾2Lyxor Asset ManagementParisFrance27,924.3
20▾1Benefit Street PartnersNew YorkUnited States26,070.2
21—Magnetar CapitalEvanstonUnited States24,950.4
22▴27Pine River Capital ManagementMinnetonkaUnited States24,052.6
23▾1Strategic Value PartnersGreenwichUnited States23,424.1
24▴8Onex Credit PartnersTorontoCanada23,410.7
25NEWRAM Active Investments S.A.GenevaSwitzerland22,000.0
26▴4Diameter Capital PartnersNew YorkUnited States21,577.7
27▴4Brigade Capital ManagementNew YorkUnited States20,342.1
28▾5Marathon Asset ManagementNew YorkUnited States20,320.7
29▴9Beach Point Capital ManagementSanta MonicaUnited States19,735.6
30▾4Guggenheim Capital MarketsNew YorkUnited States19,206.2
31▾4Appaloosa ManagementShort HillsUnited States19,100.0
32▴1Alpha Wave Global, LPNew YorkUnited States19,033.7
33▾8AlcentraLondonUnited Kingdom17,895.7
34—Varde PartnersMinneapolisUnited States16,669.2
35▴5Monarch Alternative CapitalNew YorkUnited States16,474.6
36▾8Algebris InvestmentsLondonUnited Kingdom16,079.5
37▾1Danske CapitalCopenhagenDenmark15,500.0
38▴1Bayview Asset ManagementCoral GablesUnited States14,700.0
39▴6Saba CapitalNew YorkUnited States14,474.5
40▾11Lindsell Train LimitedLondonUnited Kingdom13,980.9
41▴2Commonfund CapitalWiltonUnited States13,964.0
42▾18CarVal InvestorsMinneapolisUnited States13,945.1
43▾1Canyon PartnersLos AngelesUnited States13,544.9
44▾9MJX Asset ManagementNew YorkUnited States13,120.1
45▴1LibreMax CapitalNew YorkUnited States12,999.1
46▴1026 NorthNew YorkUnited States12,831.6
47▾10Waterfall Asset ManagementNew YorkUnited States12,388.1
48▾4Knighthead Capital Management, LLCNew YorkUnited States11,581.9
49▾8BlueMountain CapitalNew YorkUnited States11,397.6
50▴3Napier Park Global CapitalNew YorkUnited States11,390.3
51▾3Hildene Capital ManagementStamfordUnited States11,275.7
52▾2Whitebox AdvisorsMinneapolisUnited States11,045.1
53▴1Aristeia CapitalGreenwichUnited States10,982.8
54▾7CSOP Asset ManagementHong KongHong Kong10,452.7
55▾4Redwood Capital ManagementEnglewood CliffsUnited States10,350.1
56▴8Shenkman Capital ManagementNew YorkUnited States8,966.6
57▴1Pentwater Capital ManagementEvanstonUnited States8,661.5
58▾1La Française Global Investment SolutionsParisFrance7,620.0
59—Oak Hill AdvisorsNew YorkUnited States7,580.0
60▴2Blue Mountain Capital PartnersLondonUnited Kingdom7,100.0
61▴7Ellington Management GroupOld GreenwichUnited States7,073.8
62▴8Sagard Holdings Manager LPTorontoCanada6,418.1
63▾3Avenue Capital GroupNew YorkUnited States6,405.8
64▾3Tilden Park Capital ManagementNew YorkUnited States6,364.4
65▴1HPS Investment PartnersNew YorkUnited States6,350.0
66▴3GramercyGreenwichUnited States5,819.0
67▾12Tikehau CapitalParisFrance5,447.6
68▴3Stone Milliner Asset ManagementLondonUnited Kingdom5,380.0
69▴4Empyrean Capital PartnersLos AngelesUnited States4,946.7
70▴4Birch Grove CapitalNew YorkUnited States4,809.4
71▴24GaoTeng Asset ManagementHong KongHong Kong4,790.8
72▾5Anchorage Capital GroupNew YorkUnited States4,722.4
73▾1ZAIS Group LimitedLondonUnited Kingdom4,474.0
74▴13Ionic Capital ManagementNew YorkUnited States4,089.2
75▴1Contrarian Capital ManagementGreenwichUnited States4,039.2
76▴6Gates Capital ManagementNew YorkUnited States3,941.3
77▴1Cyrus Capital PartnersLondonUnited Kingdom3,823.5
78▾1Axonic Capital LLCNew YorkUnited States3,667.0
79▴4Deer Park Road CorpSteamboat SpringsUnited States3,566.0
80▾1Greywolf Capital ManagementPurchaseUnited States3,480.6
81▾1Phoenix Investment AdvisersNew YorkUnited States3,480.6
82▾17MKP Capital ManagementNew YorkUnited States3,357.4
83▴2Solus Alternative Asset ManagementNew YorkUnited States3,286.1
84—Coolabah Capital Institutional Investments Pty LimitedSydneyAustralia3,233.0
85▴1Ellipsis Asset ManagementParisFrance3,100.0
86▾11Tennenbaum Capital PartnersSanta MonicaUnited States3,063.6
87▴6Rimrock Capital ManagementIrvineUnited States3,057.8
88▴1Anson FundsDallasUnited States2,854.5
89▴2Hein Park Capital ManagementNew YorkUnited States2,478.1
90▴2Nantahala Capital ManagementDarienUnited States2,335.7
91▾39Atalaya Capital Management LPNew YorkUnited States2,329.5
92▾4Shelter Growth Capital PartnersStamfordUnited States2,314.3
93▾3Bardin Hill Investment PartnersNew YorkUnited States2,258.2
94—Ironbark Asset ManagementSydneyAustralia2,150.0
95NEWAxiom Alternative InvestmentsParisFrance2,096.6
96▴2DW PartnersNew YorkUnited States2,060.1
97▴2ADM CapitalHong KongHong Kong1,900.0
98▾1Elementum AdvisorsChicagoUnited States1,865.3
99NEWCzech Asset Management LPOld GreenwichUnited States1,761.3
100NEWFir Tree PartnersNew YorkUnited States1,543.6

Top 10 Funds — AUM Comparison ($B)

Movers and Shakers

🔺 Biggest AUM Gainers

Fund$ Change% Change
Ares Management+$37.3B+13.3%
III Capital+$25.4B+84.7%
Bracebridge Capital+$19.6B+30.2%
Angelo Gordon & Co.+$18.0B+21.9%
Pine River Capital Management+$14.3B+147.5%

🆕 New Entrants

RankFundAUM
#25RAM Active Investments S.A.$22,000M
#95Axiom Alternative Investments$2,097M
#99Czech Asset Management LP$1,761M
#100Fir Tree Partners$1,544M

📉 Dropped from List

Antara Capital LP
Ardea Investment Management
Karya Capital Management
Toscafund Asset Management

📊 Fastest Growing (%)

Pine River Capital Management+147.5%
GaoTeng Asset Management+127.3%
III Capital+84.7%
26 North+65.3%
Rimrock Capital Management+38.7%

Key Statistics

  • 76 of the top 100 are based in United States (76%)
  • 9 of the top 100 are based in United Kingdom (9%)
  • 5 of the top 100 are based in France (5%)
  • 4 of the top 100 are based in Hong Kong (4%)
  • 2 of the top 100 are based in Canada (2%)
  • The top 100 funds manage $1.98 trillion in combined AUM
  • The top 10 funds alone manage $890.7 billion — 45% of the total
  • Average AUM of the top 100 is $19.8 billion
  • Median AUM is $11.3 billion
  • Combined AUM increased 5.4% from 2025

Geographic Distribution Trends

Country202420252026YoY Δ
United States787676—
United Kingdom10109-1
France345+1
Hong Kong344—
Australia232-1
Canada122—
Denmark111—
Switzerland101+1

Frequently Asked Questions

What is the largest Credit Hedge Funds?
As of 2026, Ares Management is the largest with approximately $319B in assets under management, based in Los Angeles.
How much do the top 100 Credit Hedge Funds manage?
The 100 largest collectively manage approximately $1.98 trillion in AUM as of 2026, an increase of 5.4% from the prior year.
Which location has the most Credit Hedge Funds?
United States is home to 76% of the top 100 Credit Hedge Funds, making it the most represented location.

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