The 25 highest paid hedge fund managers collected $14bn in pay and paper profits on their own investments last year, down from $22bn in 2010 and the lowest since 2008, when most large hedge funds lost money, in a sign of the industry’s struggle to improve client portfolios.
Top of the list was David Tepper, the man behind the $15bn hedge fund Appaloosa, who made $2.2bn.
Appaloosa was one of the best performing hedge funds in the year, producing returns for its clients after fees of 30 per cent, according to people familiar with the fund, matching its annual average return since it was founded in 1993.
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