Tuesday, 5 May 2015
Last updated 6 hours ago
May 14 2013 | 11:20am ET
Big losses led to a big pay cut for Clive Capital's top managers—but they are unlikely to win any sympathy.
The London-based commodities hedge fund, which lost 8.8% last year, paid its three partners a total of US$39.2 million in the year-ended in February, according to regulatory filings. The trio received more than twice as much in the year ended February 2012, splitting US$82.5 million.
Clive's highest-paid partner—presumably founder and lead manager Christian Levett—was paid US$33.5 million down from US$60.8 million in the year-earlier period, and down from US$135 million in the 11 months prior to that.
Clive also disclosed that it paid its 11 staffers $3.5 million during the fiscal year and gave US$553,000 to charity.
After two losing years and a series of redemptions that cut US$600 million from its asset base, Clive announced fee reductions earlier this year.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…