[2] Since inception in 1991, HBK's funds have delivered annualized returns of approximately 11.6%, net of fees.

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.

[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.

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