Westport’s Bridgewater Associates, with $20.9 billion in assets, has been ranked the world’s second largest hedge fund, according to Institutional Investor’s Alpha magazine.
Goldman Sachs Asset Management is No. 1 with more $21 billion in assets, up 85 percent from two years ago when it ranked a lowly 28th, Alpha reported. D.E. Shaw Group was third with $19.9 billion.
Bridgewater Associates, at 1 Glending Place, has about 300 employees, with almost half that number engaged in research and trading, according to the company’s Web site.
The top 100 hedge fund firms now handle almost two-thirds of the industry’s assets—up from just over half at the end of 2003, Alpha reported.
