Brevan Partners' Pay Fell 79% In '10

Dec 22 2011 | 11:01am ET

Brevan Howard Capital Management's partners are in line for a major payday this year. But they had to do with much less last year, the hedge fund said in a regulatory filing.

The US$37 billion hedge fund paid out no more than £128.3 million (US$200 million) to its partners in the 12 months ended in March. That's a 79% haircut from the partner payout in the previous year.

The payout was split among an average of 52 partners during the period. The highest-paid partner, presumably founder Alan Howard, although Brevan did not disclose that information, received £64.8 million. That partner earned £267.3 million in the prior year, more than all of the partners combined in the year to March.

The serious pay cut is not much of a surprise: 2010 was the worst year in Brevan's history, with its flagship hedge fund managing a return of just 1%, while the average hedge fund rose double-digits. The lower returns—the Brevan Howard Master Fund returned 19% in 2009—meant that fees fell from £736.3 million to £236.8 million.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.