Billionaire Paul Singer’s Elliott Management, one of the world’s most feared investors, is barely beating its competition

business news

  • Elliott Management, the $34 billion investment firm led by Paul Singer, is barely beating its competition this year, according to a client update reviewed by Business Insider and industry indices.
  • Elliott deploys multiple investment strategies, ranging from real estate and private equity to distressed restructuring and activism.


Billionaire Paul Singer’s Elliott Management, one of Wall Street’s most feared activist investors and one of the largest hedge funds around, is barely beating its competition this year.

The Elliott Associates LP fund is up 6.8% after fees and the Elliott International Limited fund is up 6% after fees this year through the third quarter, according to a September 30 client update that was reviewed by Business Insider.

That’s compared to the average event-driven hedge fund, which gained 5.9% over the same period, according to data tracker HFR.

Elliott deploys multiple investment strategies, ranging from real estate and private equity to distressed restructuring and activism. Tenacious, litigious and cut-throat are terms often used to describe the iconic firm, which has been involved in some of the biggest plays in recent memory – from the Argentine debt crisis to more recently, Arconic.

The $34 billion firm doesn’t benchmark itself to any index, according to client notes previously reviewed by Business Insider. Nonetheless, we can get a sense of how other hedge funds deploying similar strategies have performed this year by looking at industry indices. Here’s a roundup from HFR for performance this year through September 30:

  • Event Driven Activist Index: 4.8%
  • Event Driven Distressed Restructuring: 4.4%
  • Event Driven Multistrategy: 5.4%

To be sure, Elliott has one of the better, and longest running, track records in the industry. The Elliott Associates fund, which launched in February 1977, has posted annualized gains of 13.4%, after fees.

The bulk of Elliott’s gains this year have come from its equity oriented strategy (+4.1% gain before fees) and distressed debt (+3.6% before fees), according to the client update.

The firm managed $34.2 billion as of the end of the third quarter – a billion more than it did at mid-year, according to the Absolute Return Billion Dollar Club ranking.

A spokesman for Elliott declined to comment.

SEE ALSO: BAUPOST’S KLARMAN: Investors are asking the wrong question about the stock market

Join the conversation about this story »

NOW WATCH: SCOTT GALLOWAY: Amazon is using an unfair advantage to dominate its competitors

Комментариев нет

Добавить комментарий

Этот сайт использует Akismet для борьбы со спамом. Узнайте как обрабатываются ваши данные комментариев.

business news
Trump’s trade fight and the unwinding of a $3 billion bet are clobbering copper

Copper prices on the London Metal Exchange slipped below $6,000 for the first time in a year Thursday. Analysts say trade escalations are weighing on a market already under pressure. An unwinding of a $3 billion long position put pressure on prices earlier this month.  Follow copper in real time …

business news
Trump threatens to slam a massive tariff on European cars, which could cause economic chaos

President Donald Trump on Friday threatened to impose a 20% tariff on imports of cars from the European Union. The move would be a huge escalation of Trump’s ongoing trade conflict with the EU. Trump already hit Europe with steel and aluminum tariffs, angering EU leaders and triggering retaliation. President …

business news
Bitcoin’s rough patch looks like the Nasdaq during the tech bubble — except it’s moving 15 times faster

Bitcoin fell as much as 70% from its mid-December high through its recent early-February low. The cryptocurrency’s price chart mirrors that of the Nasdaq Composite Index during the dotcom bubble era, but there’s a catch. Historical fluctuations in the Nasdaq should provide a template for how bitcoin will trade going …