Top 25 Largest Fund of Hedge Funds (FoF) – 2023
As of 2023, the 25 largest fund of funds collectively manage more than $539 billion in assets.
Willis Towers Watson, with $1288 billion USD in assets is the largest fund of hedge fund in the UK, as well as the world as a whole. Goldman Sachs Asset Management and Lighthouse Investment Partners, with $106 billion and $52 billion in AUM respectively, rank second and third among the biggest fund of funds.
64% of the largest fund of hedge funds managers are basedin the United States.
What are Fund of Hedge Funds?
A fund of hedge funds (FOF) is an investment vehicle that invests in other hedge funds. FOFs are typically used by investors who want to gain exposure to the hedge fund market without having to select individual hedge funds themselves. FOFs can provide a number of benefits to investors, including:
Top 25 Largest Fund of Hedge Funds (FoF) – 2023
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 | Willis Towers Watson | London | United Kingdom | $128,000 | Fund of Funds |
| 2 | Goldman Sachs Asset Management | New York | United States | $106,240 | Multi Strategy, Fund of Funds |
| 3 | Lighthouse Investment Partners | Palm Beach Gardens | United States | $51,918 | Fund of Funds, Long/Short, Managed Futures |
| 4 | Pictet Alternative Investments | Geneva | Switzerland | $31,715 | Fund of Funds |
| 5 | Crestline Investors | Fort Worth | United States | $20,097 | Fund of Funds, Event Driven |
| 6 | Barings | London | United Kingdom | $19,289 | Fund of Funds, Multi Strategy |
| 7 | GAM Fund Management | Hong Kong | Hong Kong | $18,033 | Fund of Funds |
| 8 | Neuberger Berman | New York | United States | $15,900 | Fund of Funds, ESG |
| 9 | Rock Creek | Washington | United States | $15,669 | Multi Strategy, Fund of Funds |
| 10 | Pacific Alternative Asset Management | Irvine | United States | $15,583 | Fund of Funds, Arbitrage, Convertibles |
| 11 | Entrust Permal | New York | United States | $13,454 | Fund of Funds, Long/Short |
| 12 | Credit Suisse Alternatives | Zurich | Switzerland | $12,139 | Fund of Funds |
| 13 | K2 Advisors | Stamford | United States | $10,423 | Fund of Funds |
| 14 | Corbin Capital Partners | New York | United States | $10,362 | Fund of Funds, Global Macro |
| 15 | JP Morgan Alternative Investments | New York | United States | $10,208 | Multi Strategy, Fund of Funds, Multi Strategy |
| 16 | Grove Street Advisors | Newton | United States | $8,300 | Fund of Funds |
| 17 | Adamas Partners | Boston | United States | $8,132 | Fund of Funds, Absolute Returns |
| 18 | Lombard Odier Darier Hentsch & Cie | Petit-Lancy | Switzerland | $7,758 | Fund of Funds, Multi Strategy, ESG |
| 19 | Gordian Capital | Singapore | Singapore | $6,693 | Fund of Funds, Long/Short, Real Estate |
| 20 | Amundi Alternative Investments | Paris | France | $6,580 | Fund of Funds, Long/Short |
| 21 | Magnitude Capital | New York | United States | $6,303 | Fund of Funds, Multi Strategy |
| 22 | Evanston Capital Management | Evanston | United States | $4,748 | Fund of Funds, Multi Strategy |
| 23 | Seminole Management Company | New York | United States | $4,670 | Fund of Funds |
| 24 | AlphaCat Managers | Pembroke | Bermuda | $3,465 | Fund of Funds |
| 25 | Olympia Capital Management | New York | United States | $3,400 | Fund of Funds |
Key Statistics
- As of 2023, the 25 largest fund of funds collectively manage more than $539 billion in assets.
- 64% of the largest fund of hedge funds managers are basedin the United States.
- 2 of the top 25 fund of funds for 2023 are based in London
- 3 of the 25 largest fund of hedge funds for 2023 are based in Switzerland
- The average AUM of the top 25 fund of funds for 2023 is $21.6 billion USD
- The median AUM of the top 25 FoFs for 2023 is $10.4 billion USD
- The average number of employees at the top 25 fund of hedge funds is 22
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