Top 25 Event Driven Hedge Funds 2021

2021 Top 25 Largest Event Driven Hedge Funds Overview

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 Event Driven Hedge Funds 2021

List of the 25 biggest distressed/event-driven hedge funds for 2021 ranked by assets under management (AUM)

Rank Fund Name City Country AUM Other Strategies

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

Rank	Fund Name	City	Country	AUM	Other Strategies
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

Want more details on more than 280 event-driven hedge funds?

Download the Event Driven Hedge Funds List in Excel format with 35 columns of information on each fund.

Key Stats on Top 25 Event Driven Hedge Funds – 2021

24 of the top 25 event driven hedge fund managers are based in the United States

1 of the top 25 special situations hedge funds for 2021 is based in Europe

15 of the 25 largest event driven funds for 2021 are based in New York

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

Get the full list of all event-driven hedge funds in Excel format

The Event Driven Hedge Fund List has 35 categories of detailed information on all the funds above plus 250 additional event-driven/special situations hedge 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 Distressed/Event-Driven Hedge Fund List