Top 25 Emerging Market Hedge Funds 2026
The 25 largest Emerging Market Hedge Funds manage approximately $281.4 billion in combined assets as of 2026, up 6.5% from 2025.
Moore Capital Management leads the rankings at $28B in AUM, based in New York. RAM Active Investments S.A. ranks second at $22B, followed by Marathon Asset Management at $20B.
United States is the most represented location with 52% of the top 25 funds.
Total AUM — Top 25 Emerging Market Hedge Funds 2026
Country Distribution
Top 25 Emerging Market Hedge Funds 2026
Ranked by assets under management (AUM). Click any column to sort. Fund names link to detailed profiles.
| Rank | Δ | Fund Name | City | Country | AUM ($M) |
|---|---|---|---|---|---|
| 1 | — | Moore Capital Management | New York | United States | 27,984.0 |
| 2 | ▴22 | RAM Active Investments S.A. | Geneva | Switzerland | 22,000.0 |
| 3 | — | Marathon Asset Management | New York | United States | 20,320.7 |
| 4 | ▴4 | Lone Pine Capital | Greenwich | United States | 19,846.2 |
| 5 | ▾1 | Arrowstreet Capital | Boston | United States | 19,600.0 |
| 6 | ▴1 | Hillhouse Capital | Hong Kong | Hong Kong | 19,033.7 |
| 7 | ▾1 | Grantham, Mayo, Van Otterloo & Co. | Boston | United States | 18,960.0 |
| 8 | ▾6 | BTG Pactual | Sao Paulo | Brazil | 17,149.1 |
| 9 | ▾4 | Algebris Investments | London | United Kingdom | 16,079.5 |
| 10 | ▾1 | Pharo Management | New York | United States | 12,421.0 |
| 11 | — | RWC London | London | United Kingdom | 11,998.1 |
| 12 | ▾2 | CSOP Asset Management | Hong Kong | Hong Kong | 10,452.7 |
| 13 | ▾1 | BlueCrest Capital Management | London | United Kingdom | 9,000.0 |
| 14 | ▾1 | Asia Frontier Capital | Hong Kong | Hong Kong | 8,758.4 |
| 15 | ▾1 | Harbert Management Corporation | Birmingham | United States | 7,840.9 |
| 16 | ▾1 | Gramercy | Greenwich | United States | 5,819.0 |
| 17 | ▴3 | Arisaig Partners | Singapore | Singapore | 5,630.6 |
| 18 | ▾2 | Stone Milliner Asset Management | London | United Kingdom | 5,380.0 |
| 19 | ▴3 | Discovery Capital Management | Norwalk | United States | 4,297.3 |
| 20 | ▾3 | 57 Stars | Washington | United States | 4,144.5 |
| 21 | ▾2 | HSBC Alternative Investments | London | United Kingdom | 4,094.5 |
| 22 | ▾4 | Contrarian Capital Management | Greenwich | United States | 4,039.2 |
| 23 | ▾2 | Neon Liberty Capital Management, LLC | New York | United States | 3,195.8 |
| 24 | ▾1 | Kopernik Global Investors | Tampa | United States | 1,873.1 |
| 25 | — | Ashmore Investment Management | London | United Kingdom | 1,453.5 |
Top 10 Funds — AUM Comparison ($B)
Movers and Shakers
🔺 Biggest AUM Gainers
| Fund | $ Change | % Change |
| RAM Active Investments S.A. | +$20.4B | +1,249.7% |
| RWC London | +$2.7B | +28.5% |
| Lone Pine Capital | +$2.6B | +15.0% |
| Arisaig Partners | +$2.1B | +58.2% |
| Asia Frontier Capital | +$1.9B | +26.8% |
📊 Fastest Growing (%)
| RAM Active Investments S.A. | +1,249.7% |
| Discovery Capital Management | +68.4% |
| Arisaig Partners | +58.2% |
| RWC London | +28.5% |
| Asia Frontier Capital | +26.8% |
Key Statistics
- 13 of the top 25 are based in United States (52%)
- 6 of the top 25 are based in United Kingdom (24%)
- 3 of the top 25 are based in Hong Kong (12%)
- 1 of the top 25 are based in Switzerland (4%)
- 1 of the top 25 are based in Brazil (4%)
- The top 25 funds manage $281 billion in combined AUM
- The top 10 funds alone manage $193.4 billion — 69% of the total
- Average AUM of the top 25 is $11.3 billion
- Median AUM is $9.0 billion
- Combined AUM increased 6.5% from 2025
Geographic Distribution Trends
| Country | 2024 | 2025 | 2026 | YoY Δ |
|---|---|---|---|---|
| United States | 13 | 13 | 13 | — |
| United Kingdom | 6 | 6 | 6 | — |
| Hong Kong | 4 | 3 | 3 | — |
| Brazil | 1 | 1 | 1 | — |
| Singapore | 1 | 1 | 1 | — |
| Switzerland | 0 | 1 | 1 | — |
Frequently Asked Questions
What is the largest Emerging Market Hedge Funds?
As of 2026, Moore Capital Management is the largest with approximately $28B in assets under management, based in New York.
How much do the top 25 Emerging Market Hedge Funds manage?
The 25 largest collectively manage approximately $281.4 billion in AUM as of 2026, an increase of 6.5% from the prior year.
Which location has the most Emerging Market Hedge Funds?
United States is home to 52% of the top 25 Emerging Market Hedge Funds, making it the most represented location.
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