Top 20 Emerging Markets Hedge Funds 2023

2023 Top 20 Emerging Market Hedge Funds Overview

The 20 largest emerging market hedge funds manage $293.7 billion in assets as of 2023.

Hillhouse Capital, with over $70 billion USD in assets is world’s largest emerging market hedge fund. Lone Pine Capital and Moore Capital Management, with $35 billion and $28 billion in AUM respectively, rank second and third among the biggest emerging markets hedge funds.

Sixty percent of the world’s largest emering market hedge funds are based in the United States.

What are emerging market hedge funds?
An emerging market hedge fund is a type of hedge fund that invests in the securities of companies located in emerging markets. Emerging markets are countries with developing economies that have the potential for rapid growth. Emerging market hedge funds use a variety of strategies to generate returns, including long/short equity, relative value, and event-driven investing.

2023 Largest Emerging Markets Hedge Funds by AUM

Top 20 Emerging Markets Hedge Funds 2023

List of the 20 biggest Emerging Market hedge funds for 2023, ranked by assets under management (AUM)

Rank Fund Name City Country AUM ($ Millions) Strategies Column1

1 Hillhouse Capital Hong Kong Hong Kong $70,707 Emerging Markets

2 Lone Pine Capital Greenwich United States $35,538 Long/Short, Emerging Markets Long/Short

3 Moore Capital Management New York United States $27,738 Global Macro, Emerging Markets Global Macro

4 Marathon Asset Management New York United States $26,228 Credit, Emerging Markets, Distressed Assets Credit

5 BTG Pactual Sao Paulo Brazil $20,617 Emerging Markets

6 Arrowstreet Capital Boston United States $19,600 Emerging Markets, Long/Short

7 Grantham, Mayo, Van Otterloo & Co. Boston United States $18,960 Emerging Markets, Global Macro, Energy

8 Pharo Management New York United States $16,368 Global Macro, Emerging Markets Global Macro

9 CSOP Asset Management Hong Kong Hong Kong $9,195 Credit, Emerging Markets Credit

10 Asia Frontier Capital Hong Kong Hong Kong $8,633 Emerging Markets

11 Harbert Management Corporation Birmingham United States $7,659 Emerging Markets, Commodities

12 Kopernik Global Investors Tampa United States $6,230 Emerging Markets

13 Gramercy Greenwich United States $5,972 Multi Strategy, Emerging Markets, Distressed Assets Multi Strategy

14 57 Stars Washington United States $4,495 Emerging Markets

15 Discovery Capital Management Norwalk United States $3,746 Equity, Emerging Markets, Global Macro Equity

16 Ashmore Investment Management London United Kingdom $3,008 Emerging Markets, Multi Strategy, Fixed Income

17 Arisaig Partners Singapore Singapore $2,329 Emerging Markets, ESG

18 RAM Active Investments S.A. Geneva Switzerland $2,300 Emerging Markets, Long/Short, Credit

19 Autonomy Capital New York United States $2,216 Emerging Markets, Global Macro

20 Autonomy Capital George Town Cayman Islands $2,216 Emerging Markets, Multi Strategy

Rank Country AUM ($ Millions) Strategies Column1

Rank	Fund Name	City	Country	AUM ($ Millions)	Strategies	Column1
1	Hillhouse Capital	Hong Kong	Hong Kong	$70,707	Emerging Markets
2	Lone Pine Capital	Greenwich	United States	$35,538	Long/Short, Emerging Markets	Long/Short
3	Moore Capital Management	New York	United States	$27,738	Global Macro, Emerging Markets	Global Macro
4	Marathon Asset Management	New York	United States	$26,228	Credit, Emerging Markets, Distressed Assets	Credit
5	BTG Pactual	Sao Paulo	Brazil	$20,617	Emerging Markets
6	Arrowstreet Capital	Boston	United States	$19,600	Emerging Markets, Long/Short
7	Grantham, Mayo, Van Otterloo & Co.	Boston	United States	$18,960	Emerging Markets, Global Macro, Energy
8	Pharo Management	New York	United States	$16,368	Global Macro, Emerging Markets	Global Macro
9	CSOP Asset Management	Hong Kong	Hong Kong	$9,195	Credit, Emerging Markets	Credit
10	Asia Frontier Capital	Hong Kong	Hong Kong	$8,633	Emerging Markets
11	Harbert Management Corporation	Birmingham	United States	$7,659	Emerging Markets, Commodities
12	Kopernik Global Investors	Tampa	United States	$6,230	Emerging Markets
13	Gramercy	Greenwich	United States	$5,972	Multi Strategy, Emerging Markets, Distressed Assets	Multi Strategy
14	57 Stars	Washington	United States	$4,495	Emerging Markets
15	Discovery Capital Management	Norwalk	United States	$3,746	Equity, Emerging Markets, Global Macro	Equity
16	Ashmore Investment Management	London	United Kingdom	$3,008	Emerging Markets, Multi Strategy, Fixed Income
17	Arisaig Partners	Singapore	Singapore	$2,329	Emerging Markets, ESG
18	RAM Active Investments S.A.	Geneva	Switzerland	$2,300	Emerging Markets, Long/Short, Credit
19	Autonomy Capital	New York	United States	$2,216	Emerging Markets, Global Macro
20	Autonomy Capital	George Town	Cayman Islands	$2,216	Emerging Markets, Multi Strategy
Rank			Country	AUM ($ Millions)	Strategies	Column1

Want more details on more than 300 emerging market hedge funds?

Download the Emerging Market Hedge Funds List in Excel format with 40 columns of information on each fund.

Key Stats on Top 20 Emerging Market Hedge Funds in 2023

12 of the top 20 emerging market hedge fund managers are based in the United States

3 of the top 20 emerging markets hedge funds for 2023 are based in Hong Kong

1 of the 20 largest hedge funds for 2023 is based in the United Kingdom

The top 20 emerging market hedge fund companies managed $293.7 billion in assets

The average AUM of the top 20 emerging market hedge funds for 2023 is $14.7 billion USD

The median AUM of the top 20 hedge funds for 2023 is $8.1 billion USD

The average number of employees at the top emerging market hedge funds is 13

Get the full list of all Emerging Market hedge funds in Excel format

The Emerging Market Hedge Fund List has 40 categories of detailed information on all the funds above plus over 300 additional emerging market funds. Everything from website to emails to senior staff, hiring status, number of clients and more is included. And it’s delivered in Excel format for easy use with any spreadsheet program or contact management system.

View full details of the Emerging Market Hedge Fund List