Hedge funds move billions and shape the financial markets – but who is actually behind these investment giants?
• Hedge funds are among the most powerful players in the financial world
• Founders and managers rely on sophisticated strategies to achieve high returns
• Who are the minds behind these billion-dollar funds?
The industry magazine Pensions & Investments (P&I) has published a ranking of the largest hedge fund managers in 2024. But which investor legends are actually behind some of the largest hedge funds?
Bridgewater Associates
The hedge fund Bridgewater Associates was founded in 1975 by the renowned star investor Ray Dalio. After much preparation, Dalio handed over the leadership at Bridgewater to the new CEO Nir Bar Dea and the co-CIOs Greg Jensen, Bob Prince and Karen Karniol-Tambour in autumn 2022. However, Dalio continues to serve in an advisory capacity as a mentor to the CIOs and the Investment Committee at Bridgewater. He also continues to sit on the hedge fund’s board and, according to the company, has no intention of changing this. In the Forbes ranking of the richest people, Dalio ranks 186th with $15.4 billion (as of April 16, 2026). According to Forbes, Bridgewater Associates had $92 billion in assets under management.
Man Group
The Man Group was founded in London in 1783 by James Man. The company has been listed on the London Stock Exchange since 1994. The company has been led by Robyn Grew since September 2023. She is one of the few women among hedge fund CEOs. Last year, Grew ranked 82nd in Forbes’ list of the most powerful women in the world. According to its own information, the Man Group currently (April 16, 2026) manages assets worth $227.6 billion.
Elliott Investment Management
Elliott Investment Management is one of the largest activist hedge funds – meaning it invests in companies to influence corporate strategy, push for restructuring or cost reductions. Paul Singer, who now shares leadership with co-CEO Jonathan Pollock, is behind the fund, which was founded in 1977. In the Forbes ranking of the richest people, Singer ranks 592nd with $6.7 billion (as of April 16, 2026). According to its own information, Elliott Investment Management had assets under management of $79.8 billion as of December 31, 2025.
Millennium Management
The hedge fund Millennium Management was founded in 1989 by Israel Englander, who still holds the role of CEO today. In the Forbes ranking of the richest people, Englander ranks 97th with $25.8 billion (as of April 16, 2026). According to its own information, Millennium Management manages assets worth around $84.2 billion.
Citadel
Citadel was founded in 1990 by Kenneth C. Griffin, who continues to serve as CEO today. In the Forbes ranking of the richest people, Griffin ranks 36th with $50.5 billion (as of April 16, 2026). According to Forbes, his hedge fund company manages around $68 billion in assets.
TCI Fund Management
TCI (short for The Children’s Investment) Fund Management was founded in London in June 2003 and says it is “committed to investing in high quality companies with sustainable competitive advantages”. The founder is Christopher Hohn, who is also CEO of the hedge fund. In the Forbes ranking of the richest people, Hohn ranks 261st with $11.8 billion (as of April 16, 2026). According to Forbes, TCI Fund Management manages approximately $77 billion in assets.
DE Shaw Group
The DE Shaw Group was founded in New York City in 1988 by David E. Shaw. The company’s daily operations are now managed by a seven-member executive committee. In the Forbes ranking of the richest people, Shaw ranks 396th with $8.8 billion (as of April 16, 2026). According to Forbes, DE Shaw Group has over $70 billion in assets under management.
Two Sigma Investments
Two Sigma Investments was founded in New York in 2001 by John Overdeck and David Siegel. In the Forbes ranking of the richest people, Overdeck and Siegel share place 447 with $8 billion (as of April 16, 2026). However, the two founders fell out and resigned as co-CEOs in 2024. Today the company is led by co-CEOs Carter Lyons and Scott Hoffman. According to Forbes, Two Sigma Investments manages approximately $60 billion in assets.
Farallon Capital Management
Farallon Capital Management was founded in 1986 by Thomas Steyer. In the Forbes ranking of the richest people, Steyer ranks 1,726th with $2.4 billion (as of April 16, 2026). Steyer ran the hedge fund for 26 years before selling his stake in 2012 and devoting his time to politics and the environment. Andrew Spokes now serves as Executive Chair and Nicolas Giauque as Managing Partner and Chief Investment Officer (CIO) of Farallon Capital Management. According to information on its own homepage, Farallon Capital Management currently manages assets worth $44 billion.
Thomas Zoller, editorial team at finanzen.net
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