Millennium and Citadel lead a 12-strong group on the Multi-Strategy Power List of firms dominating the in-demand sector.
AFI‘s updated list ranks the biggest firms managing $10bn+ in multi-strategy midway through 2025. Walleye Capital and LMR Partners join the list of firms specialising in multi-strategy now above the key threshold.
In September the PivotalPath Multi-Strategy Index made 2.0%, taking it to a YTD of 7.6% and 10.6% over a 12-month period; back to a “consistent money-making footing” after early-year setbacks.
Analysis explores key developments at leading firms and trends affecting the group.
Multi-Strategy Power List firms are still setting the hedge fund agenda, with headlines this year over divergent performance, succession, continued growth in external allocations and acute cost pressures, which ended Eisler Capital‘s hopes of joining the cohort.
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