Top 25 Largest Credit Hedge Funds – 2021
The 25 largest credit and fixed income hedge funds manage $960 billion in assets as of early 2021. 88% of the top credit hedge funds are based in the United States. 52% of the largest fixed income hedge funds are based in New York.
With $105 billion in AUM, Capula Investment Management is the largest credit hedge fund manager in 2021. Ares Management and Elliott Management rank two and three, respectively, among the biggest credit hedge funds.
Credit hedge funds tend to be among the largest hedge funds based on investment strategy/style. Credit funds invest in a variety of debt instruments including corporate and sovereign bonds. They may also invest in various derivatives related to credit instruments including swaps and options.
The below list of top fixed income hedge funds includes hedge fund companies operating at least one hedge fund vehicle investing in credit securities and related.
This data is from 2021. View the Top 50 Credit Hedge Funds 2023
Top 25 Largest Credit 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 | Capula Investment Management LLP | London | United Kingdom | 105,951.6 | Absolute Returns, Credit |
| 2.0 | Ares Management | Los Angeles | United States | 99,062.0 | Managed Futures, Fixed Income, Consumer Products |
| 3.0 | Elliott Management | New York | United States | 73,511.3 | Global Equity, Credit, Event Driven, Commodities |
| 4.0 | Structured Portfolio Management | Stamford | United States | 64,740.6 | ABS, Fixed Income |
| 5.0 | Gramercy | Greenwich | United States | 61,347.7 | Multi Strategy, Emerging Markets, Distressed Assets |
| 6.0 | Cerberus Capital Management | New York | United States | 61,347.7 | Credit, Real Estate, Private Equity |
| 7.0 | Angelo Gordon & Co. | New York | United States | 56,276.9 | Real Estate, Fixed Income, Managed Futures, Multi Strategy |
| 8.0 | Oaktree Capital Management | Los Angeles | United States | 38,350.0 | Fixed Income, Real Estate, Distressed Assets |
| 9.0 | Bracebridge Capital | Boston | United States | 36,808.8 | Absolute Returns, Commodities, Credit |
| 10.0 | Symmetry Investments | Hong Kong | Hong Kong | 36,435.0 | Credit |
| 11.0 | Apollo Capital | New York | United States | 32,680.0 | Managed Futures, Credit |
| 12.0 | Anchorage Capital Group | New York | United States | 28,296.1 | Credit, Event Driven, Long/Short |
| 13.0 | Brigade Capital Management | New York | United States | 26,756.0 | Managed Futures, Distressed Assets, Long/Short, Credit |
| 14.0 | King Street Capital Management | New York | United States | 24,504.6 | Global Macro, FX, Long/Short, Distressed Assets |
| 15.0 | Magnetar Capital | Evanston | United States | 22,958.1 | Multi Strategy, Managed Futures, Event Driven, Credit |
| 16.0 | Centerbridge Partners LP | New York | United States | 21,711.4 | Multi Strategy, Distressed Assets, Managed Futures, Credit |
| 17.0 | Arrowgrass Capital Partners | London | United Kingdom | 21,208.4 | Convertibles, Multi Strategy, Credit |
| 18.0 | Saba Capital | New York | United States | 21,208.4 | Credit |
| 19.0 | Varde Partners | Minneapolis | United States | 20,980.3 | Distressed Assets, Event Driven, Credit |
| 20.0 | MJX Asset Management | New York | United States | 20,980.3 | CDO, Credit |
| 21.0 | Appaloosa Management | Short Hills | United States | 19,100.0 | Global Equity, Fixed Income, Distressed Assets |
| 22.0 | Knighthead Capital Management, LLC | New York | United States | 17,719.1 | Long/Short, Credit, Event Driven |
| 23.0 | Litespeed Management | New York | United States | 16,417.6 | Fixed Income, Distressed Assets |
| 24.0 | KLS Diversified | New York | United States | 15,891.6 | Fixed Income, Commodities |
| 25.0 | CarVal Investors | Minneapolis | United States | 15,734.0 | Fixed Income, Real Estate |
Key Statistics
- The 25 largest credit and fixed income hedge funds manage $960 billion in assets as of early 2021. 88% of the top credit hedge funds are based in the United States. 52% of the largest fixed income hedge funds are based in New York.
- With $105 billion in AUM, Capula Investment Management is the largest credit hedge fund manager in 2021. Ares Management and Elliott Management rank two and three, respectively, among the biggest credit hedge funds.
- 2 of the top 25 credit hedge funds for 2021 are based in the UK
- 1 of the 25 largest fixed income funds for 2021 is based in Hong Kong
- The top 25 credit hedge fund companies have $960.0 billion USD in assets under management (AUM)
- The average AUM of the top 25 cfixed income funds for 2021 is $39.4 billion USD
- The median AUM of the top 25 credit hedge funds for 2021 is $26.8 billion USD
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