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One report suggests some of Ellington's hedge funds may have temporarily lost around 25% of their value as they liquidated $2 billion in assets [10] after allegedly missing a margin call from UBS. [11] [12] However, from its December 1994 inception through April 2004, the firm delivered a composite annualized return of 15.4%, after fees. [13]
The firm was founded as Och-Ziff in 1994 by Daniel Och with financial support from the Ziff family, founders of Ziff Davis Media. The company completed an initial public offering in 2007. The firm was one of the few hedge funds and private equity companies that completed IPOs before the 2007–2008 financial crisis. [14]
Dirk Edward Ziff was born in 1965, Robert D. Ziff in 1967, and Daniel M. Ziff in 1973. Their father was the Jewish American media magnate William Bernard Ziff Jr. (1930–2006), who had inherited Ziff Davis from his father William Bernard Ziff Sr. and built the magazine publisher that included titles such as Popular Aviation, PC Magazine, and Car and Driver. [1]
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A rough year for the stock market was a winning one for some of the biggest names in the business.
Vranos started work at Kidder Peabody after graduation from Harvard in 1983. He was the youngest Managing Director in the 130-year history of Kidder Peabody. [3] During his reign at Kidder Peabody from 1990–1994, Kidder underwrote over $200 billion in CMOs, which was about 20% of all CMOs issued during that period and nearly double the next largest Wall Street firm. [3]
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Below are the 20 largest hedge funds in the world ranked by discretionary assets under management (AUM) as of mid-2024. Only assets in private funds following hedge fund strategies are counted. Some of these managers also manage public funds and offer non-hedge fund strategies.