New York City’s hedge fund industry is almost three times the size of its closest rival, London.
Hedge fund managers based in New York have about $1,024 billion in assets under management, surpassing London’s $395 billion total assets under management, according to data from Preqin. The largest individual fund manager in the two cities is London’s $50 billion Man Investments, reports ValueWalk.
New York holds about a third of all hedge fund assets globally. Boston falls behind London as the number three hedge fund home, with about $171 billion in assets under management, followed by Westport, Greenwich, and San Francisco. Hong Kong and Stockholm are the only other two cities not in the U.S. to make the top 10 list.
In New York, almost half of the strategies sought by investors in the next 12 months are long/short equity. In London equity strategies make up just more than half of sought after investments. Lockup periods tend to be longer in New York, about 10 months compared to six months in most other cities. Performance fees in New York are slightly higher than the mean at 19.65%, and in London they are a bit lower at 18.55%.
Photo: Nick Harris.