Thursday, 25 December 2014
Last updated 17 hours ago
Apr 1 2010 | 9:59am ET
The salad days of huge hedge fund manager earnings returned last year, with the top 25 managers earning an average of more than $1 billion apiece.
All told, those 25 men earned a total of $25.3 billion, according to AR magazine, a new record. Also setting a record was the man atop that list, Appaloosa Management’s David Tepper, who earned $4 billion in management fees and on his own investment in the fund, which soared 130% last year. Tepper’s take-home eclipsed the record payday set in 2007 by Paulson & Co.’s John Paulson, who earned $3.7 billion three years ago.
Paulson didn’t do too badly this year, either, earning $2.3 billion, topped only by Tepper, Soros Fund Management’s George Soros ($3.3 billion) and Renaissance Technologies’ James Simons ($2.5 billion).
Rounding out the top 10 are SAC Capital Advisers’ Steven Cohen ($1.4 billion), Icahn Associates’ Carl Icahn ($1.3 billion), ESL Investments’ Edward Lampert ($1.3 billion), Citadel Investment Group’s Kenneth Griffin ($900 million), Centaurus Energy’s John Arnold ($900 million) and Harbinger Capital Partners’ Phillip Falcone ($825 million).
Not only was last year’s payday a record for the top 25, it’s also a remarkable turnaround from 2008, when that group earned just $11.6 billion.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.