Top 25 Fund of Hedge Funds 2026
The 25 largest Fund of Hedge Funds manage approximately $507.6 billion in combined assets as of 2026, up 3.9% from 2025.
Goldman Sachs Asset Management leads the rankings at $106B in AUM, based in New York. Lighthouse Investment Partners ranks second at $86B, followed by BlackRock Alternative Advisors at $33B.
United States is the most represented location with 56% of the top 25 funds.
There are 1 new entrants to the top 25 in 2026 and 1 funds that dropped off compared to 2025.
Total AUM — Top 25 Fund of Hedge Funds 2026
Country Distribution
Top 25 Fund of Hedge Funds 2026
Ranked by assets under management (AUM). Click any column to sort. Fund names link to detailed profiles.
| Rank | Δ | Fund Name | City | Country | AUM ($M) |
|---|---|---|---|---|---|
| 1 | — | Goldman Sachs Asset Management | New York | United States | 106,240.0 |
| 2 | — | Lighthouse Investment Partners | Palm Beach Gardens | United States | 85,747.9 |
| 3 | — | BlackRock Alternative Advisors | New York | United States | 33,250.0 |
| 4 | — | Pictet Alternative Investments | Geneva | Switzerland | 31,715.0 |
| 5 | — | Lyxor Asset Management | Paris | France | 27,924.3 |
| 6 | — | Willis Towers Watson | London | United Kingdom | 23,920.0 |
| 7 | — | Horsley Bridge Partners | San Francisco | United States | 22,290.4 |
| 8 | — | Gopher Asset Management | Shanghai | China | 21,200.0 |
| 9 | ▴1 | Neuberger Berman | New York | United States | 15,900.0 |
| 10 | ▴3 | Gordian Capital | Singapore | Singapore | 14,968.6 |
| 11 | ▴1 | Macquarie | Sydney | Australia | 13,850.4 |
| 12 | ▾3 | GAM Fund Management | Hong Kong | Hong Kong | 13,417.0 |
| 13 | ▾2 | Crestline Investors | Fort Worth | United States | 11,601.9 |
| 14 | ▴1 | Adamas Partners | Boston | United States | 10,689.7 |
| 15 | ▴1 | Entrust Permal | New York | United States | 10,277.4 |
| 16 | ▾2 | Credit Suisse Alternatives | Zurich | Switzerland | 9,738.4 |
| 17 | ▴1 | Magnitude Capital | New York | United States | 9,633.2 |
| 18 | ▴3 | Grove Street Advisors | Newton | United States | 6,773.2 |
| 19 | ▴1 | Amundi Alternative Investments | Paris | France | 6,580.0 |
| 20 | ▴3 | Corbin Capital Partners | New York | United States | 6,038.2 |
| 21 | ▴4 | Olympia Capital Management | New York | United States | 5,400.0 |
| 22 | ▾5 | Pacific Alternative Asset Management | Irvine | United States | 5,199.4 |
| 23 | ▾4 | Lombard Odier Darier Hentsch & Cie | Petit-Lancy | Switzerland | 5,155.6 |
| 24 | — | Ellerston Capital | Sydney | Australia | 5,120.0 |
| 25 | NEW | JP Morgan Alternative Investments | New York | United States | 4,959.0 |
Top 10 Funds — AUM Comparison ($B)
Movers and Shakers
🔺 Biggest AUM Gainers
| Fund | $ Change | % Change |
| Lighthouse Investment Partners | +$31.7B | +58.6% |
| Gordian Capital | +$3.4B | +29.2% |
| Magnitude Capital | +$1.6B | +19.7% |
| Macquarie | +$1.0B | +7.4% |
| Horsley Bridge Partners | +$0.6B | +2.8% |
🆕 New Entrants
| Rank | Fund | AUM |
| #25 | JP Morgan Alternative Investments | $4,959M |
📉 Dropped from List
| K2 Advisors |
📊 Fastest Growing (%)
| Lighthouse Investment Partners | +58.6% |
| Gordian Capital | +29.2% |
| Magnitude Capital | +19.7% |
| Macquarie | +7.4% |
| Olympia Capital Management | +5.9% |
Key Statistics
- 14 of the top 25 are based in United States (56%)
- 3 of the top 25 are based in Switzerland (12%)
- 2 of the top 25 are based in France (8%)
- 2 of the top 25 are based in Australia (8%)
- 1 of the top 25 are based in United Kingdom (4%)
- The top 25 funds manage $508 billion in combined AUM
- The top 10 funds alone manage $383.2 billion — 75% of the total
- Average AUM of the top 25 is $20.3 billion
- Median AUM is $11.6 billion
- Combined AUM increased 3.9% from 2025
Geographic Distribution Trends
| Country | 2024 | 2025 | 2026 | YoY Δ |
|---|---|---|---|---|
| United States | 18 | 14 | 14 | — |
| Switzerland | 2 | 3 | 3 | — |
| Australia | 0 | 2 | 2 | — |
| France | 2 | 2 | 2 | — |
| China | 0 | 1 | 1 | — |
| Hong Kong | 0 | 1 | 1 | — |
| Singapore | 0 | 1 | 1 | — |
| United Kingdom | 2 | 1 | 1 | — |
Frequently Asked Questions
What is the largest Fund of Hedge Funds?
As of 2026, Goldman Sachs Asset Management is the largest with approximately $106B in assets under management, based in New York.
How much do the top 25 Fund of Hedge Funds manage?
The 25 largest collectively manage approximately $507.6 billion in AUM as of 2026, an increase of 3.9% from the prior year.
Which location has the most Fund of Hedge Funds?
United States is home to 56% of the top 25 Fund of Hedge Funds, making it the most represented location.
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