Moore Europe Profit Rises

Oct 5 2012 | 1:52pm ET

Moore Capital Management's European business posted a big increase in profit last year after slashing administrative costs.

Moore Europe Capital had £31.7 million (US$51.3 million) to distribute to its seven partners in 2011, according to a regulatory filing. That's a 45% increase from 2010.

Moore Europe's revenue actually fell by more than one-third to £76.7 million. But its administrative expenses fell by more than half, to just £44.6 million, accounting for the jump in profit. Salaries were £30.5 million, averaging £285,000 for each of its 107 employees.

The profit goes to five people and two companies, MECM Limited and Moore Europe Capital Development. The people sharing in the pot include Moore founder Louis Bacon, co-chief investment officer Greg Coffey, David Barker, Maurizio Alfano and Gian Luca Ambrosio, who resigned in November.

Next year, emerging markets macro strategies chief Soraya Chabarek will share in the pool.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note