AFI 500: Multi-strategy managers by secondary strategy

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Multi-manager firms, often described as ‘pod shops’, account for 53.3% of regulatory hedge fund assets among the AFI 500 multi-strategy managers, despite representing just 11 firms.

Diversified multi-strategy is the most widely represented secondary classification, with 24 managers, but accounts for a smaller 26.1% share of assets.

Quant multi-strategy firms comprise seven managers and hold the remaining 20.6%, highlighting how asset concentration differs markedly from the distribution of firms across the three groups.

AFI 500: Multi-strategy managers by secondary strategy

By manager count and regulatory hedge fund assets (US$bn) – AFI 500, March 2026

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