Elliott Management
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|
| Holding company | |
| Industry | Financial services |
| Founded |
New York City 1977 |
| Founder | Paul Singer |
| AUM |
 US$ 34 billion (2017)
|
| Website | Elliottmgmt.com |
Elliott Management Corporation is an American investment management firm. It is also the largest activist fund in the world.
It serves as the management affiliate of American hedge funds flagship Elliott Associates L.P. and Elliott International Limited. Elliott was founded by Paul Singer, who also serves as CEO of the management company, which is based in New York City. From inception, Elliott has generated for its investors a 14.6% net compound annual return, compared to 10.9% for the S&P 500 stock index, and now has more than US$34 billion in assets under management. As of the first quarter of 2015, Elliott's portfolio is worth over $8 billion. By 2009 "more than one-third of Elliott’s portfolio was concentrated in distressed securities, typically in the debt of bankrupt or near-bankrupt companies." Elliott has widely been described as a vulture fund.
Paul Singer created Elliott Associates in January 1977, starting with $1.3 million from friends and family. (Elliott is his middle name.) In its earliest years, the firm focused on convertible arbitrage. Since the and early 1990s recession, however, the firm has transitioned into a multi-strategy hedge fund. Elliott Associates manages $8.6 billion and is Elliott Management's primary domestic fund.
Elliott is noted for its relatively high returns and low volatility. The New York Times has called Paul Singer "one of the most revered" hedge fund managers on Wall Street. Elliott returns have generally outpaced the annual growth of the S&P 500. Describing Singer in 2012 as "one of the smartest and toughest money managers in the business," Fortune noted that over the previous 35 years, he had "produced an extraordinary 14% average annual return after fees, nearly double the price appreciation of the S&P 500." From inception, Elliott has generated for its investors a 14.6% net compound annual return, compared to 10.9% for the S&P 500 stock index, while having only one-third of the index's volatility. The firm is currently closed to new investors. As of mid-2008, Elliott counted 175 employees in New York City, London, Tokyo and Hong Kong and is one of the oldest hedge funds under continuous management.
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Wikipedia