Top 10 European Hedge Funds by AUM

London-based Marshall Wace manages USD 55B across long/short equity and its proprietary TOPS (Trade Optimised Portfolio System) strategy, which aggregates trade ideas from hundreds of external brokers into algorithmically managed portfolios. Co-founded by Paul Marshall and Ian Wace, the firm is backed by KKR.

Marshall Wace

Jersey-domiciled Brevan Howard manages USD 35B with a focus on global macro discretionary strategies, trading G10 rates, FX, and credit across economic cycles. Founded by Alan Howard in 2002, it is famed for stellar crisis-period performance and for attracting the world's most sought-after macro traders.

Brevan Howard

London-based TCI (The Children's Investment Fund) manages EUR 43B in a highly concentrated equity strategy, typically holding fewer than 10 positions. Founded by Sir Christopher Hohn, TCI is also one of the world's most aggressive shareholder activists and the source of the GBP 2B-per-year charitable foundation of the same name.

TCI Fund Management

Oxford-founded systematic fund manager Winton manages USD 20B+ using statistical research and machine-learning models applied to futures and equity markets. Founded by David Harding, a pioneer of quantitative trend-following, Winton employs more scientists and PhDs per capita than almost any other asset manager.

Winton Group

London-based Capula manages USD 30B+ across fixed income relative value and macro strategies, making it one of Europe's largest non-discretionary macro funds. Founded in 2005 by former JPMorgan traders, Capula is particularly known for its expertise in rates volatility and global bond market dislocations.

Capula Investment Management

Converted to a private family office in 2015 after returning external capital, London-based BlueCrest still manages an estimated USD 20B+ of its founders' wealth using multi-strategy macro approaches. Mike Platt's firm is notorious for its high-performance culture and for incubating some of Europe's most successful macro traders.

BlueCrest Capital Management

London-based Lansdowne is one of Europe's most respected fundamental long/short equity managers, with USD 15B+ in AUM focused on European and global equities. Founded in 1998 by Peter Davies and Stuart Roden, it closed its flagship Developed Markets fund to external investors in 2020 citing diminishing returns to scale.

Lansdowne Partners

Founded by Italian economist Davide Serra in London in 2006, Algebris manages USD 10B+ across financial-sector equities, credit, and macro strategies. Its specialist focus on banks, insurers, and financial infrastructure gives it a differentiated edge, and its Algebris Financial Credit Fund is a benchmark for the sector.

Algebris Investments

London-based CQS manages USD 13B+ in credit-focused multi-strategy alternatives, covering structured credit, convertible bonds, and asset-backed securities. Founded by Sir Michael Hintze in 1999, CQS is one of Europe's pre-eminent credit hedge funds and a significant participant in European leveraged finance and CLO markets.

CQS

London-based Marshall Wace manages USD 55B across long/short equity and its proprietary TOPS (Trade Optimised Portfolio System) strategy, which aggregates trade ideas from hundreds of external brokers into algorithmically managed portfolios. Co-founded by Paul Marshall and Ian Wace, the firm is backed by KKR.

Marshall Wace

Jersey-domiciled Brevan Howard manages USD 35B with a focus on global macro discretionary strategies, trading G10 rates, FX, and credit across economic cycles. Founded by Alan Howard in 2002, it is famed for stellar crisis-period performance and for attracting the world's most sought-after macro traders.

Brevan Howard

London-based TCI (The Children's Investment Fund) manages EUR 43B in a highly concentrated equity strategy, typically holding fewer than 10 positions. Founded by Sir Christopher Hohn, TCI is also one of the world's most aggressive shareholder activists and the source of the GBP 2B-per-year charitable foundation of the same name.

TCI Fund Management

Oxford-founded systematic fund manager Winton manages USD 20B+ using statistical research and machine-learning models applied to futures and equity markets. Founded by David Harding, a pioneer of quantitative trend-following, Winton employs more scientists and PhDs per capita than almost any other asset manager.

Winton Group

London-based Capula manages USD 30B+ across fixed income relative value and macro strategies, making it one of Europe's largest non-discretionary macro funds. Founded in 2005 by former JPMorgan traders, Capula is particularly known for its expertise in rates volatility and global bond market dislocations.

Capula Investment Management

Converted to a private family office in 2015 after returning external capital, London-based BlueCrest still manages an estimated USD 20B+ of its founders' wealth using multi-strategy macro approaches. Mike Platt's firm is notorious for its high-performance culture and for incubating some of Europe's most successful macro traders.

BlueCrest Capital Management

London-based Lansdowne is one of Europe's most respected fundamental long/short equity managers, with USD 15B+ in AUM focused on European and global equities. Founded in 1998 by Peter Davies and Stuart Roden, it closed its flagship Developed Markets fund to external investors in 2020 citing diminishing returns to scale.

Lansdowne Partners

Founded by Italian economist Davide Serra in London in 2006, Algebris manages USD 10B+ across financial-sector equities, credit, and macro strategies. Its specialist focus on banks, insurers, and financial infrastructure gives it a differentiated edge, and its Algebris Financial Credit Fund is a benchmark for the sector.

Algebris Investments

London-based CQS manages USD 13B+ in credit-focused multi-strategy alternatives, covering structured credit, convertible bonds, and asset-backed securities. Founded by Sir Michael Hintze in 1999, CQS is one of Europe's pre-eminent credit hedge funds and a significant participant in European leveraged finance and CLO markets.

CQS