Top 25 Hedge Funds in Asia 2023

2023 Top 25 Asian Hedge Funds Overview

There are some minor changes for the 2023 top hedge funds in Asia rankings versus the list of top hedge funds for 2022. Multi-strategy remains the most popular strategy among the top hedge funds in Asia.

Hillhouse Capital, with over $70 billion USD in assets is the largest hedge fund in Hong Kong, as well as Asia as a whole. Symmetry Investments and BFAM Partners, with $36 billion and $19 billion in AUM respectively, rank second and third among the biggest Asian hedge funds.

Asia’s 25 largest hedge funds manage a combined $225 billion in assets as of 2023. This is up 18% from 2022.

With one exception, all of the largest hedge funds in Asia are based in either Hong Kong or Singapore.

Top 25 Hedge Funds in Asia 2023

List of the 25 biggest Asian hedge funds for 2023 ranked by assets under management (AUM)

Rank Fund Name City Country AUM ($ Millions) Strategies

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

2 Symmetry Investments Hong Kong Hong Kong $36,435 Credit

3 BFAM Partners Hong Kong Hong Kong $18,965 Multi-Strategy, Credit

4 GAM Fund Management Hong Kong Hong Kong $18,033 Fund of Funds

5 SPARX Group Co. Tokyo Japan $9,809 Asian Equity

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

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

8 Overlook Investments Group Hong Kong Hong Kong $7,158

9 Gordian Capital Singapore Singapore $6,693 Fund of Funds, Long/Short, Real Estate

10 Segantii Capital Management Hong Kong Hong Kong $5,825 Multi Strategy

11 Avanda Investment Management Singapore Singapore $5,020 Multi Strategy

12 Ward Ferry Management Hong Kong Hong Kong $4,155 Long/Short

13 Cheetah Investment Management Hong Kong Hong Kong $3,964 Asian Equity, Value

14 Graticule Asset Management Singapore Singapore Singapore $3,327 Global Macro

15 APS Asset Management Singapore Singapore $2,341 Global Equity, Long/Short

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

17 Ortus Capital Management Hong Kong Hong Kong $2,000 FX

18 Azentus Capital Hong Kong Hong Kong $1,928 Multi Strategy

19 ADM Capital Hong Kong Hong Kong $1,900 Distressed Assets, Multi Strategy, ESG

20 Grand Alliance Asset Management Ltd. Hong Kong Hong Kong $1,566

21 Tree Line Investment Management Hong Kong Hong Kong $1,505

22 Sylebra Hk Company Limited Hong Kong Hong Kong $1,292 Asian Equity

23 Rays Capital Partners Limited Hong Kong Hong Kong $1,115

24 Penjing Asset Management Hong Kong Hong Kong $765 Fund of Funds, Asian Equity

25 Value Partners Group Limited Hong Kong Hong Kong $729 Asian Equity, Long/Short, Emerging Markets

$225,389

$3,964

Rank Country AUM ($ Millions) Strategies

Rank	Fund Name	City	Country	AUM ($ Millions)	Strategies
1	Hillhouse Capital	Hong Kong	Hong Kong	$70,707	Emerging Markets
2	Symmetry Investments	Hong Kong	Hong Kong	$36,435	Credit
3	BFAM Partners	Hong Kong	Hong Kong	$18,965	Multi-Strategy, Credit
4	GAM Fund Management	Hong Kong	Hong Kong	$18,033	Fund of Funds
5	SPARX Group Co.	Tokyo	Japan	$9,809	Asian Equity
6	CSOP Asset Management	Hong Kong	Hong Kong	$9,195	Credit, Emerging Markets
7	Asia Frontier Capital	Hong Kong	Hong Kong	$8,633	Emerging Markets
8	Overlook Investments Group	Hong Kong	Hong Kong	$7,158
9	Gordian Capital	Singapore	Singapore	$6,693	Fund of Funds, Long/Short, Real Estate
10	Segantii Capital Management	Hong Kong	Hong Kong	$5,825	Multi Strategy
11	Avanda Investment Management	Singapore	Singapore	$5,020	Multi Strategy
12	Ward Ferry Management	Hong Kong	Hong Kong	$4,155	Long/Short
13	Cheetah Investment Management	Hong Kong	Hong Kong	$3,964	Asian Equity, Value
14	Graticule Asset Management Singapore	Singapore	Singapore	$3,327	Global Macro
15	APS Asset Management	Singapore	Singapore	$2,341	Global Equity, Long/Short
16	Arisaig Partners	Singapore	Singapore	$2,329	Emerging Markets, ESG
17	Ortus Capital Management	Hong Kong	Hong Kong	$2,000	FX
18	Azentus Capital	Hong Kong	Hong Kong	$1,928	Multi Strategy
19	ADM Capital	Hong Kong	Hong Kong	$1,900	Distressed Assets, Multi Strategy, ESG
20	Grand Alliance Asset Management Ltd.	Hong Kong	Hong Kong	$1,566
21	Tree Line Investment Management	Hong Kong	Hong Kong	$1,505
22	Sylebra Hk Company Limited	Hong Kong	Hong Kong	$1,292	Asian Equity
23	Rays Capital Partners Limited	Hong Kong	Hong Kong	$1,115
24	Penjing Asset Management	Hong Kong	Hong Kong	$765	Fund of Funds, Asian Equity
25	Value Partners Group Limited	Hong Kong	Hong Kong	$729	Asian Equity, Long/Short, Emerging Markets
				$225,389
				$3,964
Rank			Country	AUM ($ Millions)	Strategies

Want more details on more than 600 hedge funds in Asia?

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

Key Stats on Top 25 Asian Hedge Funds in 2023

19 of the top 25 Asian hedge fund managers are based in Hong Kong

5 of the top 25 hedge funds in Asia for 2023 are based in Singapore

1 of the 25 largest hedge funds for 2023 is based in Tokyo, Japan

The top 25 hedge fund companies in Asia have $225.4 billion in assets under management (AUM)

The average AUM of the top 25 hedge funds in Asia for 2023 is $9 billion USD

The median AUM of the top 25 hedge funds for 2023 is $4.0 billion USD

The average number of employees at the top 25 Asia-based hedge funds is 18

Get the full list of all Asian hedge funds in Excel format

The Asia Hedge Fund List has 40 categories of detailed information on all the funds above plus over 600 additional hedge funds based in Asia, including Hong Kong/China, SIngapore, Japan and more. 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.

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