Paul Singer’s Hedge Fund Is Playing for Higher Stakes Now

Elliott Management Corp. is facing a growing challenge: size. The $76 billion fund, arguably the most famous name in shareholder activism, is getting bigger. So are its targets. Now, where are the gains?

Paul Singer’s firm is being humbled by the soaraway performance of the S&P 500. The same goes for many active asset managers. Returns since 1994 haven’t beaten the index, the Financial Times reported last week, citing Elliott’s latest investor letter. Singer, meanwhile, considered the idea that size might constrain performance, as he has on previous occasions. He concluded no — also not for the first time.