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Bloomberg Markets’ ranking of the top 100 large hedge funds in the world is out, and it definitely looks different from last year’s list.One major reason for the difference is that the Tiger Cubs — hedge fund managers trained and seeded by the legendary founder of Tiger Management, Julian Roberston — have slipped from the top spots on the list.
Last year, 37 year-old Chase Coleman was the most successful hedge fund manager, with his long/short equity fund Tiger Global. He’s known for having made early investments in tech companies like Facebook and Zynga. This year Coleman ranks #12, the highest of all the Tiger cubs returning 21% compared to last years 45%.
The highest ranked Tiger Cub after Coleman is Maverick Capital’s Lee Ainslee, with a gain of 16%.
Tiger Asia’s Bill Hwang, who ranked #25 last year, returned money to outside investors in August after a three year insider trading investigation by Hong Kong regulators.
All of those funds are long/short equity funds. That’s important to note because this year’s top spots are mostly occupied by funds that have either asset backed or mortgage arbitrage strategies.