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HBK Investments

From Wikipedia - Reading time: 6 min
HBK Investments
Company typePrivate company
IndustryInvestment management
Founded1991
FounderHarlan B. Korenvaes
HeadquartersDallas, Texas
Key people
David Costen Haley President and Managing Director

John Baker Gentry Managing Director and Chief Financial Officer

Mr. Kevin Alan O'neal Managing Director and Chief Operating Officer
[1]
AUM$10.02 billion (June 2019)
Number of employees
200 (2015)
Websitewww.hbk.com

HBK Investments (or HBK Capital Management) is a global, multi-strategy alternative investment management firm based in Dallas, Texas. As of 2015, it manages approximately $9.7 billion and employs 200 individuals. In addition to the main offices in Dallas, the firm maintains satellite offices in New York, Virginia, London, Tokyo, and Hong Kong.[2] Since inception in 1991, HBK's funds have delivered annualized returns of approximately 11.6%, net of fees.[3]

The firm takes its name from the initials of Harlan B. Korenvaes, former Managing Director of Merrill Lynch in charge of the firm's convertible arbitrage trading and sales. He left Merrill Lynch and founded HBK in October 1991, starting with $30 million in capital from four limited partners, including Richard Rainwater, David Geffen, the Ziff family, and the Burden family, heirs to the Vanderbilt fortune.[3] Korenvaes retired from HBK in 2003 to run his family office, Korenvaes Capital.[4][5]

In mid-2007 HBK's assets peaked at $14.06 billion, making it one of the largest hedge funds in the world, though it subsequently suffered heavy redemptions during and following the Great Recession.[3]

In 2015, Institutional Investor/Alpha magazine gave HBK an A grade and the #13 ranking among hedge funds worldwide.[6]

References

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  1. ^ "Company Overview of HBK Investments L.P." Bloomberg. Retrieved 24 April 2016.
  2. ^ "HBK INVESTMENTS Top 10 13F Holdings in Q1 2015". Octafinance. Retrieved 17 October 2015.
  3. ^ a b c Waite, Suzie. "HBK rebounds after several tough years". Institutional Investor. Retrieved 17 October 2015.
  4. ^ "HBK Capital of Texas Records Strong 2010". FIN Alternatives. Retrieved 17 October 2015.
  5. ^ "HBK founder Korenvaes raising capital; HBK troubles continue". Hedge Fund Intelligence. 1 May 2009. Retrieved 24 April 2016.
  6. ^ Taub, Stephen. "The Hedge Fund Report Card" (PDF). Institutional Investor's Alpha. Retrieved 4 March 2016.
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