Caxton Associates, one of the world’s leading macro hedge funds, has reported a sharp decline in profitability, with profits plunging nearly 80% over a volatile 15-month period ending 31 March, according to a report by Financial News.
The report cites newly released accounts filed with Companies House, as showing that Caxton Europe Asset Management Limited posted a profit of £102m for the 15 months to 31 March, down significantly from £491m for the 12 months ending 31 December.
Revenue also experienced a substantial drop, falling from £544.6m in 2021 to £150.7m during the extended reporting period.
Despite the profit and revenue slump, Caxton increased its workforce by 24%, growing from 84 to 104 employees. The hedge fund paid £31.6m in compensation, averaging approximately £303,000 per employee.
Key management personnel collectively shared £105m in partnership profits, while the highest-paid member of Caxton Europe, the firm’s partnership subsidiary, earned over £73m during the period.
Caxton is led by Andrew Law, listed as a designated member of Caxton Europe and one of three directors of Caxton Europe Asset Management Limited. The firm, originally founded by US hedge fund manager Bruce Kovner, operates out of Mayfair’s prestigious Berkeley Square in London.
