Hedge funds pull in $13 billion in first half of 2026

Global hedge funds attracted $13 billion in net inflows in the first half of 2026, putting the industry on pace for a second straight year of positive capital raising. North America launch activity, CTA performance and growing demand for multi-strategy funds emerged as the main signals in With Intelligence’s latest report.

Why it matters: - Hedge funds are regaining institutional attention after a long stretch of redemptions. - The first-half inflow pace points to a second consecutive year of net capital growth for the industry. - Investor demand is shifting toward commodities, fixed income and credit-focused strategies.

What happened: - Global hedge funds pulled in $13 billion in net capital inflows in the first half of 2026, according to With Intelligence’s Hedge Fund Trends Report 2026. - Funds added $6.6 billion in Q2 alone. - Q2 marked the sixth straight quarter of net inflows. - The report was released Sept. 1, 2026, and covers global hedge fund trends with a focus on North America and strategy performance.

The details: - The industry is now on track for a second consecutive year of positive capital raising. - That comes after 12 of 13 quarters of net outflows from Q4 2021 through Q4 2024. - With Intelligence tracked 141 new funds in development in North America during the first six months of 2026. - That was the second-largest field of new North American fund launches since the COVID-19 pandemic. - Macro strategies made up 10% of new funds in development, extending a three-year trend. - CTAs returned 9.8% in the first half of 2026 and outperformed discretionary global macro managers for the first time since 2022. - Discretionary macro managers returned an average of 7.1% in the first half. - The report links weaker discretionary macro results to central bank policy shifts and ongoing geopolitical events. - More than one in five hedge fund allocation intentions targeted multi-strategy managers in the first half. - Consolidation in the multi-strategy segment accelerated even as investor demand increased. - The full report is available as the full With Intelligence Hedge Fund Trends Report 2026.

Between the lines: - The inflow data suggests institutions are rewarding strategies that can navigate rate volatility, macro uncertainty and market dislocation. - CTA outperformance signals that systematic trend-following may be taking share from discretionary macro managers. - Strong allocator interest in multi-strategy funds shows investors still want broad diversification, even as the category becomes more concentrated.

What's next: - If first-half trends hold, hedge funds could finish 2026 with two straight years of net inflows. - North American launch activity and allocator preferences will be key indicators of whether the industry’s recovery broadens beyond a few favored strategies. - Continued consolidation in multi-strategy funds may reshape where capital flows next.

The bottom line: - Hedge funds are back in growth mode, but the gains are uneven and concentrated in a handful of strategies and regions.