JPMorgan Chase & Co. topped the list of the largest U.S. hedge-fund firms, managing $56.2 billion as of July 1, according to HedgeFund Intelligence’s Absolute Return magazine, Bloomberg reports.
JPMorgan’s hedge-fund assets have jumped 65 percent this year, the publication said. The New York-based financial firm bought Highbridge Capital Management in late 2004, adding $7 billion, or 60 percent of its hedge-fund totals at the time.
Goldman Sachs Group Inc. of New York, which won the top ranking a year ago, oversaw $40 billion as of June 29, a 22 percent increase from the beginning of the year. D.E. Shaw, the New York-based firm founded by David Shaw, ranked No. 3 with $34 billion in assets.
The Top 10 largest U.S. hedge-fund firms together managed $308.7 billion or about 18 percent of the industry’s $1.7 trillion in assets as of midyear.