Top 25 Largest Event Driven Hedge Funds – 2021
The 25 largest event-driven/distressed asset hedge funds manage $599 billion in assets as of early 2021. 96% of the top event-driven hedge funds are based in the United States. 60% of the largest event driven funds are based in New York.
With $111 billion in AUM, Fortress Investment Group is the largest event-driven hedge fund manager in 2021. Elliot Management and Gramercy rank two and three, respectively, among the biggest event driven/distressed asset hedge funds.
Event driven hedge funds, also known as special situation or distressed asset funds, invest based on potential pricing inefficiances that exist around corporate events (mergers, earnings, etc.). Event driven funds use a number of financial instruments including futures, options, debt, and equity.
The below list of top event driven hedge funds includes hedge fund companies operating at least one hedge fund vehicle investing in this strategy.
Top 25 Largest Event Driven Hedge Funds – 2021
Ranked by assets under management (AUM). Click any column to sort. Fund names link to detailed profiles.
| Rank | Fund Name | City | Country | AUM | Strategy |
|---|---|---|---|---|---|
| 1.0 | Fortress Investment Group | New York | United States | 110,894.2 | Private Equity, Global Macro, Special Situations |
| 2.0 | Elliott Management | New York | United States | 73,511.3 | Global Equity, Credit, Event Driven, Commodities |
| 3.0 | Gramercy | Greenwich | United States | 61,347.7 | Multi Strategy, Emerging Markets, Distressed Assets |
| 4.0 | Oaktree Capital Management | Los Angeles | United States | 38,350.0 | Fixed Income, Real Estate, Distressed Assets |
| 5.0 | Anchorage Capital Group | New York | United States | 28,296.1 | Credit, Event Driven, Long/Short |
| 6.0 | Brigade Capital Management | New York | United States | 26,756.0 | Managed Futures, Distressed Assets, Long/Short, Credit |
| 7.0 | King Street Capital Management | New York | United States | 24,504.6 | Global Macro, FX, Long/Short, Distressed Assets |
| 8.0 | Magnetar Capital | Evanston | United States | 22,958.1 | Multi Strategy, Managed Futures, Event Driven, Credit |
| 9.0 | Centerbridge Partners LP | New York | United States | 21,711.4 | Multi Strategy, Distressed Assets, Managed Futures, Credit |
| 10.0 | Varde Partners | Minneapolis | United States | 20,980.3 | Distressed Assets, Event Driven, Credit |
| 11.0 | Appaloosa Management | Short Hills | United States | 19,100.0 | Global Equity, Fixed Income, Distressed Assets |
| 12.0 | Knighthead Capital Management, LLC | New York | United States | 17,719.1 | Long/Short, Credit, Event Driven |
| 13.0 | Litespeed Management | New York | United States | 16,417.6 | Fixed Income, Distressed Assets |
| 14.0 | LMR Partners | London | United Kingdom | 15,350.0 | Global Macro, Event Driven |
| 15.0 | Silver Point Capital | Greenwich | United States | 13,571.3 | Multi Strategy, Distressed Assets, Credit |
| 16.0 | EJF Asset Management | Arlington | United States | 13,484.7 | Event Driven, ABS |
| 17.0 | Davidson Kempner Capital Management | New York | United States | 10,369.8 | Global Equity, Distressed Assets |
| 18.0 | Hildene Capital Management | Stamford | United States | 9,828.0 | Distressed Assets, Credit |
| 19.0 | Harbinger Capital Partners | New York | United States | 9,217.3 | Event Driven, Distressed Assets |
| 20.0 | Bardin Hill Investment Partners | New York | United States | 9,198.6 | Multi Strategy, Special Situations, Distressed Assets |
| 21.0 | Oak Hill Advisors | New York | United States | 7,580.0 | Credit, Distressed Assets |
| 22.0 | HG Vora Capital Management | New York | United States | 7,563.5 | Event Driven |
| 23.0 | Amber Capital Investment Management | New York | United States | 7,414.7 | Managed Futures, Event Driven |
| 24.0 | Jana Partners | New York | United States | 7,390.3 | Event Driven, Long/Short |
| 25.0 | Pentwater Capital Management | Evanston | United States | 5,728.2 | Global Equity, Fixed Income, Event Driven |
Key Statistics
- The 25 largest event-driven/distressed asset hedge funds manage $599 billion in assets as of early 2021. 96% of the top event-driven hedge funds are based in the United States. 60% of the largest event driven funds are based in New York.
- With $111 billion in AUM, Fortress Investment Group is the largest event-driven hedge fund manager in 2021. Elliot Management and Gramercy rank two and three, respectively, among the biggest event driven/distressed asset hedge funds.
- The top 25 event driven hedge fund companies have $599.2 billion USD in assets under management (AUM)
- The average AUM of the top 25 distressed asset / event driven funds for 2021 is $24.0 billion USD
- The median AUM of the top 25 hedge funds for 2021 is $16.4 billion USD
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