Publications
Partners
London - Britain's top-25 richest hedge fund managers' wealth rose by £1.8bn to £14.8bn over the past year, the Sunday Times Rich List showed.
Hedge funds typically charge 2% for management and take 20% cut in performance generated, making hundreds of millionaires every year in the $3trn industry.
Alan Howard and Michael Platt, founders of Brevan Howard Asset Management and BlueCrest Capital Management, topped the sector list, each with £1.5bn. While Platt's fortune remained unchanged over the period, Howard's wealth declined by £100m, it showed.
The hedge fund list was released on Friday ahead of a 128-page special edition of the Sunday Times Magazine that each year reveals the wealth of the 1 000 richest people in Britain.
Crispin Odey and Nichola Pease of Odey Asset Management had £1.1bn and added £580m to their wealth, the most by any hedge fund manager in Britain.
In all, seven hedge fund managers, including CQS founder Michael Hintze and Winton Capital's David Harding, had wealth of £1bn or more, the list showed.
James Vernon, co-founder of Brevan Howard with £250m and Chris Rokos, the former Brevan Howard star trader with £400m, registered the biggest jump in their wealth ranking over the past year, it said.
