Hedge funds, the poster child of active managers, are always defined by what they do in times of volatility.
The chasm between 2022 and 2023 was no different. Many hedge funds that were top performers in 2022 — when the markets reflected the pain of higher interest rates — did not change their strategies even as investors became more optimistic about the data in 2023. At the same time, many hedge funds that suffered in 2022 weren’t deterred in 2023 and benefited from their continued bullishness.
Hedge fund managers who were able to deftly negotiate the dramatically different markets of 2022 and 2023 are well represented among the nominees for Institutional Investor’s 21st Annual Hedge Fund Industry Awards.
The manager finalists for the Hedge Fund Industry Awards were selected from a pool of nominations submitted by allocators, peers, and other industry professionals and identified through independent research overseen by the magazine’s editorial team. The six finalists in each category were determined after reviewing supporting documents provided with nominee submissions and additional vetting by consultant Eric Uhlfelder, who has been surveying the hedge fund industry for two decades, and backed by data from Bloomberg, BarclayHedge, and proprietary sources.
Citadel, AQR Capital Management, D. E. Shaw Group tied at four category nominations each this year, while Capital Fund Management was close behind with three nominations each. Eight other hedge fund firms were also multi-category nominees.
Institutional asset allocators — including pension funds, endowments, foundations, healthcare funds, family offices, and sovereign wealth funds — are now invited to vote for the top managers in each category. Voting closes at 5 pm on April 22, 2024.
Hedge Fund Industry Awards Are Being Reshaped for 2024
II is making some sweeping changes to the Hedge Fund Industry Awards this year, including celebrating the winners at II Week in Newport, Rhode Island.
Our readers have told us they want II to continue providing an independent window into the top hedge fund managers and allocators that take innovative and rigorous approaches to building portfolios.
But investors also want educational opportunities and immersive experiences where they can hear directly from asset management founders and leaders, consultants, regulators, and journalists — and bring that data and insight back to their colleagues and workplaces.
In response to the feedack, II is introducing an educational component to the awards, which will now be integrated into II Week taking place from June 24 - June 26 in Newport. II Week is a platform for allocators, managers, investors, and industry experts to convene, exchange insights, and delve into the latest trends, best practices, and innovations in the sector.
Here’s what we’re changing:
- The magazine will publish the winners in each category and the Rising Stars of Hedge Funds on InstitutionalInvestor.com on May 1.
- As part of II Week, a half-day educational experience will be held on June 26. Winners will meet with allocators during the event, participate in discussions and debates about the critical issues facing hedge funds and alternatives today, and have time to meet and network with their peers.
- Winners and the Rising Stars of Hedge Funds will be honored at a gala dinner set against the backdrop of Newport’s scenic harbor on the evening of June 26.
Qualified allocators can vote here.
Voting is open until 5PM April 22, 2024
And the Nominees Are . . .
INSTITUTIONAL HEDGE FUND MANAGER
- Capital Fund Management (CFM)
- Citadel
- D. E. Shaw Group
- Millennium Management
- Mudrick Capital Management
- Napier Park
EQUITY HEDGE FUND MANAGER
- 8 Knots Management
- AQR Capital Management
- Citadel
- Peconic Partners
- Viking Global
- Voss Value
CREDIT-FOCUSED HEDGE FUND MANAGER
- Asgard Asset Management
- GoldenTree Asset Management
- Millstreet Capital Management
- Napier Park
- PIMCO
- Selwood Asset Management
MULTISTRATEGY HEDGE FUND MANAGER
- AQR Capital Management
- Capital Fund Management (CFM)
- Citadel
- D. E. Shaw Group
- Millennium Management
- PIMCO
EVENT-DRIVEN HEDGE FUND MANAGER
- Garda Capital Management
- GoldenTree Asset Management
- Mudrick Capital Management
- Pentwater Capital Management
- TIG Advisors
- VR Capital Group
MACRO HEDGE FUND MANAGER
- AQR Capital Management
- Citadel
- D. E. Shaw Group
- Discovery Capital Management
- EDL Capital
- Winton
QUANTITATIVE HEDGE FUND MANAGER
- AQR Capital Management
- BlackRock
- Capital Fund Management (CFM)
- D. E. Shaw Group
- Quantedge Capital
- Winton
ACTIVIST HEDGE FUND MANAGER
- JANA Partners
- Pershing Square
- Saba Capital Management
- Starboard Value
- TCI Fund Management
- ValueAct
MOST INNOVATIVE HEDGE FUND MANAGER
- Asgard Asset Management
- Enko Capital
- Rosetta Analytics
- Union Bridge, Goldman Sachs External Investing Group
- Waha Capital
- Whitehaven Asset Management
EMERGING HEDGE FUND MANAGER
- 8 Knots Management
- CastleKnight Management
- Irenic Capital
- Praetorian Capital
- Two Seas Capital
- WHG (Wealth High Governance)
Note: This article was updated to reflect the correct number of nominations for D. E. Shaw Group.
