Some Hedge Funds Still Raising Money-SAC, Greenlight, Elliott Mgmt & Brevan Howard
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A few hedge fund managers are doing what most hedge funds can't do these days--raising money. SAC's Stevie Cohen, Greenlight's David Einhorn, Elliott Management's Paul Singer and Brevan Howard Asset Management's Alan Howard are currently in the process of raising money for their individual hedge funds.
Bloomberg reported Elliott Management added $3 billion in Q3 and Brevan Howard Asset Management LLP raised new monies as they posted investment gains, while the average hedge fund has lost 20%.
Although, SAC Capital and Greenlight Capital haven't had great years, they opened up funds that had been previously closed to investors since 2005.
The above hedge funds are raising money as most hedgies are downsizing, with client redemptions and losses expected to cut industry assets by 32%, according to a report by Morgan Stanley.
Elliott, which manages approximately $14.5 billion, is in the process of collecting an additional $1 billion.
Brevan Howard, with an AUM of $27 billion, has returned a 17% gain this year in its largest Brevan Howard Macro Ltd. fund.
With these new monies that these hedge funds have raised, they may allocate some of the money to some of their biggest holdings. For example, some of Greenlight's largest holdings include Target (NYSE: TGT), Helix Energy Solutions (NYSE: HLX) and Microsoft (NYSE: MSFT)
Brevan Howard's top holdings include Pride International (NYSE: PDE) and The Gap (NYSE: GPS). Some of SAC Capital's largest holdings include Budweiser (NYSE: BUD) and Wyeth (NYSE: WYE).
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Bloomberg reported Elliott Management added $3 billion in Q3 and Brevan Howard Asset Management LLP raised new monies as they posted investment gains, while the average hedge fund has lost 20%.
Although, SAC Capital and Greenlight Capital haven't had great years, they opened up funds that had been previously closed to investors since 2005.
The above hedge funds are raising money as most hedgies are downsizing, with client redemptions and losses expected to cut industry assets by 32%, according to a report by Morgan Stanley.
Elliott, which manages approximately $14.5 billion, is in the process of collecting an additional $1 billion.
Brevan Howard, with an AUM of $27 billion, has returned a 17% gain this year in its largest Brevan Howard Macro Ltd. fund.
With these new monies that these hedge funds have raised, they may allocate some of the money to some of their biggest holdings. For example, some of Greenlight's largest holdings include Target (NYSE: TGT), Helix Energy Solutions (NYSE: HLX) and Microsoft (NYSE: MSFT)
Brevan Howard's top holdings include Pride International (NYSE: PDE) and The Gap (NYSE: GPS). Some of SAC Capital's largest holdings include Budweiser (NYSE: BUD) and Wyeth (NYSE: WYE).
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