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Alternative Market Briefing

Opalesque Roundup: Macro hedge funds lead industry to banner year, fund launches signal continued investor demand

Monday, January 12, 2026

Macro Funds Lead Industry to Banner Year

Hedge funds delivered exceptional returns in 2025, with the global industry posting an average gain of approximately 15 percent according to data compiled by Opalesque. Macro strategies led the charge, benefiting from sustained volatility across rates, currencies, and commodities.

Bridgewater Associates' flagship Pure Alpha fund gained 33 percent in 2025, marking one of its strongest years in more than a decade. The performance was driven by macro trades across rates, currencies, and commodities, highlighting how volatility created fertile trading conditions for discretionary strategies. Following the record year, Bridgewater appointed veteran investor Bob Prince as board chair, signaling continuity at the top of the world's largest hedge fund firm.

BlueCrest Capital Management posted a 73 percent gain, marking one of its strongest years since shifting away from external capital. The performance reinforces the resurgence of discretionary macro trading and validates Mike Platt's decision to transform BlueCrest into a proprietary trading operation. The firm has benefited from macro volatility and disciplined risk management.

Chris Hohn's TCI surged 27 percent in 2025 as it profited from big bets on the aerospace sector. The billionaire hedge fund financier kn......................

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