HBK Investments

Investment management firm

HBK Investments

Company type| Private company
Industry| Investment management
Founded| 1991
Founder| Harlan B. Korenvaes
Headquarters| Dallas, 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)
Website| www.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

[edit]

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.[permanent dead link]
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. Archived from the original on 4 March 2016. 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.

## External links

[edit]

* Home page Archived 2015-09-24 at the Wayback Machine
* NASDAQ profile

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Hedge funds

Investment
strategy|

| Arbitrage /
relative value|

* Capital structure arbitrage
* Convertible arbitrage
* Equity market neutral
* Fixed income arbitrage / fixed-income relative-value investing
* Statistical arbitrage
* Volatility arbitrage

|

Event-driven|

* Shareholder activism
* Distressed securities
* Risk arbitrage
* Special situation

Directional|

* Convergence trade
* Commodity trading advisors / managed futures account
* Dedicated short
* Global macro
* Long/short equity
* Trend following

Other|

* Fund of hedge funds / Multi-manager

Trading|

* Algorithmic trading
* Day trading
* High-frequency trading
* Prime brokerage
* Program trading
* Proprietary trading

Related
terms|

| Markets|

* Commodities
* Derivatives
* Equity
* Fixed income
* Foreign exchange
* Money markets
* Structured securities

|

Misc|

* Absolute return
* Arbitrage pricing theory
* Assets under management
* Black–Scholes model (Greeks: delta neutral)
* Capital asset pricing model (alpha / beta / security characteristic line)
* Fundamental analysis
* Hedge
* Securitization
* Short
* Taxation of private equity and hedge funds
* Technical analysis

Investors|

* Vulture funds
* Family offices
* Financial endowments
* Fund of hedge funds
* High-net-worth individual
* Institutional investors
* Insurance companies
* Investment banks
* Merchant banks
* Pension funds
* Sovereign wealth funds

Governance|

* Fund governance
* Standards Board for Alternative Investments
* Managed Funds Association

* Alternative investment management companies
* Hedge funds
* Hedge fund managers
* List of hedge funds

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