Monday, 25 July 2016
Last updated 2 days ago
Oct 27 2011 | 8:49am ET
Profits at Moore Capital Management's European business fell by almost half last year, according to a regulatory filing.
Moore Europe Capital Management's seven partners split just £21.8 million last year, down from £40 million divided amongst four partners, including two companies in 2009. Moore Europe's profits have fallen every year since it was established in 2007, from £155 million that year to £143 million in 2008, Financial News reports.
One of the corporate partners, MECM Limited, paid out salaries of more than £75 million to its 109 employees last year.
In 2009, Moore Europe counted just two individuals, firm founder Louis Bacon and his co-chief investment officer and former GLG Partners star trader, Greg Coffey. Last year, David Barker, Maurizio Alfano and Gian Luca Ambrosio joined the group.
Most of Moore's funds are down this year, albeit by less than most hedge funds.