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EY, with 168 qualifying clients, is ahead of PwC, KPMG and Deloitte on the hedge fund auditor ranking based on the AFI 500, and leads in most strategies.
The “Big Four” accounting firms are some way ahead of the chasing pack. Deloitte is fourth with 60 clients on the AFI 500, more than four times Grant Thornton in fifth.
The ranking includes nine auditing firms with at least four clients on the AFI 500. There is a long tail of firms with between one and three clients.
The ranking incorporates the world’s leading 500 hedge fund managers on a regulated AuM basis, broadly capturing the universe of firms at $1bn or more in absolute hedge fund assets.
EY is the leading hedge fund auditor across most strategies, including the largest — long/short equity — and most popular — multi-strategy. It also leads in macro and quant.
But KPMG leads in managed futures/CTA and volatility funds, while PwC is top in credit, multi-asset and fixed-income relative value.
The US is home to the headquarters of 327 AFI 500 firms, followed by the UK on 92 and Hong Kong on 27.
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Methodology: The comprehensive research ranks the top 500 hedge fund managers by size, strategy and region. It is available exclusively to AFI Intelligence subscribers, based on a combination of proprietary industry analysis and publicly available information from a range of sources, including regulatory filings and the Institute for Private Capital.
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