The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
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Apr 2 2014 | 10:08am ET
Hengistbury Investment Partners’ rapid growth has translated into a handsome payday for its partners and employees.
The London-based hedge fund, founded three years ago by Stuart Powers, a former partner at The Children’s Investment Fund Management, swung to a £5.4 million profit in the 12 months to November, it said in a regulatory filing. During its first 17 months in business, Hengistbury lost £431,809, due to start-up costs.
Revenues surged nearly 20-fold to £9.8 million, as the firm’s assets soared from an initial US$25 million to US$1.5 billion late last year. All of that translated into distributable profits of £5.4 million and a big jump in compensation, which totaled £3.3 million, compared to just £100,000 in its first 17 months.
London-based Hengistbury employs a global long/short equity strategy.