Thursday, 3 September 2015
Last updated 8 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…