BlueCrest, Brevan, Winton Profits To Top US$3 Billion

Dec 19 2011 | 2:26pm ET

The men and women who run three of Europe's most prominent hedge funds are in line for a major payday.

The three firms, BlueCrest Capital Management, Brevan Howard Capital Management and Winton Capital, are expected to split more than US$3 billion among their top partners this year, the Financial Times reports. About half of that total has been earned by Brevan, and most of its is expected to go to Brevan founder Alan Howard.

Howard will earn "many hundreds of millions of dollars" this year, according to the FT, which should easily make Howard Europe's highest-paid hedge fund manager.

The US$1.5 billion in fees earned by Brevan, which is based in Guernsey with most of its top managers in Switzerland, having moved from London last year, is the firm's best year ever. Brevan's flagship hedge fund is up 13% over the past year, well ahead of the average hedge fund, which is reporting a loss.

Winton's partners could split fee income in excess of US$700 million, according to the FT, while BlueCrest's leaders could earn a combined US$600 million.

With both Brevan and BlueCrest, and Howard and BlueCrest chief Michael Platt, now formally based elsewhere, Winton's David Harding is likely to earn the title of highest-paid Briton this year. And unlike Howard and Platt, Harding doesn't appear to mind that half of his earnings will be paid in taxes.

"I think, practically speaking, if you are going to raise tax, you've got to raise it from the people who have the money," he told the FT last month.

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