The combined fortunes of the top three hedge fund managers in the 2010 Sunday Times Rich List have grown by GBP1.15bn in a single year.
The Rich List league table of Britain’s 25 wealthiest hedge fund managers is headed by Louis Bacon, the London-based Moore Capital manager, who gains billionaire status in the 2010 Rich List with a 69 per cent rise in his fortune.
Now worth GBP1,100m, Bacon becomes one of the 50 richest people in the country, moving 14 places up the list of Britain’s wealthiest 1,000 to be ranked 49. In 12 months, Bacon has added GBP450m to his personal fortune. Last year, worth GBP650m, he had a ranking of 63=.
Robert Miller, founder of the Hong Kong-based fund Sail Advisors, has seen his personal wealth rise by GBP200m in a year to place him at 57= overall with a fortune of GBP950m.
Alan Howard, who co-founded Brevan Howard in 2002, has made the biggest gain of any hedge fund manager with his personal wealth growing by GBP500m (133 per cent) in a year to give him a fortune of GBP875m in the 2010 Sunday Times Rich List and a ranking of 66=, up from 139= in the 2009 list.
David Slager, a new entry to the list, ranked 259 in Britain’s richest 1,000 with a fortune of GBP253m. Slager, a London-based, Oxford educated Dutchman, runs the European fund of Atticus Capital, the New York hedge fund co-chaired by Nat Rothschild, who is ranked seventh – eight places above Slager – in the list of wealthiest hedge fund managers with a fortune of GBP330m, placing him 204= overall.
The list is based on identifiable wealth – land, property, other assets such as art and racehorses, or significant shares in publicly quoted companies – and excludes bank accounts.
The Sunday Times Rich List 2010 is compiled by Philip Beresford and edited by Ian Coxon.
