Brummer Partners To Split US$44.7M

Jul 2 2013 | 2:25am ET

Despite a mediocre 2012, Brummer & Partners’ founders are enjoying a healthy payday.

The Swedish hedge fund giant’s owners will split 300 million Swedish kronor (US$44.7 million), Dagens Industri reports. Namesake Patrik Brummer will get 87 million kronor. Kent Janer, who leads Brummer’s quantitative macro effort, will be paid 12 million kronor.

Brummer’s funds failed to match their historical returns or the returns of their benchmark last year, with its Multi-Strategy Fund rising just 4.4% and its largest fund, Lynx, actually losing 5.14%. But the firm earned a 20% return on its own capital.

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