By Hugh Leask
A total of 19 hedge fund managers are included in this year’s Sunday Times Rich List of the U.K.’s wealthiest 350 individuals, with BlueCrest Capital Co-Founder Michael Platt making the top 10.
Of the 19 hedge fund managers listed, 11 are billionaires. High-profile firms including Brevan Howard, Rokos Capital, Toscafund and Marshall Wace are all represented on the list, which also includes U.K. Prime Minister Rishi Sunak, who was a former partner at global long/short equity hedge fund Theleme Partners and Sir Chris Hohn's The Children’s Investment Fund Management.
Platt is the U.K.’s richest hedge fund manager overall, with a personal wealth of £11.5 billion ($14.3 billion) -- up from £1.5 billion ($1.87 billion) last year. BlueCrest generated a remarkable 153% annual return in 2022 from successful bond market positions amid rising interest rates and inflation.
Sir Chris Hohn is the second wealthiest U.K. hedge fund manager, with £5 billion ($6.2 billion). Hohn, who runs activist hedge fund TCI Fund Management, placed 42nd in the overall list -- a jump of some twenty-five places from last year after his wealth rose £2.4 billion ($3 billion).
The Sunday Times also spotlighted Hohn -- whose investment strategy has a strong focus on ESG and responsible investing -- as the U.K.’s most generous individual. According to the ranking, he donates some £2.1 million ($2.6 million) a day, or £86,000 an hour, to charity.
At number 86 on the list, up from 104 last year, is Chris Rokos, head of macro outfit Rokos Capital. Rokos, who previously managed money at Brevan Howard, is the U.K.’s third wealthiest hedge fund manager, with £2 billion ($2.5 billion), having added £250 million ($311 million) in the past year. Rokos’ old boss Alan Howard, head of Brevan Howard, is at number 100, rising 17 places from last year, having seen his wealth grow by £200 million ($250 million) to £1.75 billion ($2.18 billion).
Making up the top five richest U.K. hedge fund managers is Michael Hintze, head of credit-focused multi-strategy fund CQS and now a member of the U.K.’s upper legislative chamber the House of Lords, with £1.71 billion ($2.1 billion), up £10 million ($12.5 million) from last year.
The six other hedge fund billionaires on the list are Quadrature Capital’s Suneil Setiya and Greg Skinner, who each re-enter the list with £1.69 billion ($2.1 billion); Capula CIO Yan Huo, whose wealth dipped £152 million ($189 million) to £1.215 billion ($1.5 billion) over the past year; Egerton Capital’s John Armitage and William Bollinger, with £1.2 billion ($1.5 billion) and £1 billion ($1.245 billion), respectively; and Sandell Asset Management founder Tom Sandell, whose wealth rose £38 million last year to reach £1 billion.
Kirkoswald’s Greg Coffey re-enters the list with £862 million ($1 billion).
In joint 201st place are Andy Brown of Cedar Rock, who has seen his wealth rise £38 million to £850 million ($1.05 billion), and Caxton Associates’ Andrew Law, who also has £850 million having added £100 million last year.
Toscafund founder Martin Hughes is another re-entrant to the power ranking, with £824 million ($1.03 billion). Marshall Wace co-founders Sir Paul Marshall and Ian Wace are each worth £800 million ($996 million), having both gained £120 million last year, together jumping from joint 238th to joint 214th on the list.
Pelham Capital founder Ross Turner, an ex-Lansdowne Partners manager, has £798 million ($993 million), up £23 million.
Elsewhere, U.K. Prime Minister Rishi Sunak, who is listed together with wife Akshata Murty at number 275, has £529 million ($658 million), having made their fortune in technology and hedge funds. The couple have seen their wealth tumble by £201 million over the past year mainly as a result of falling shares in Infosys, the Indian information technology giant.
This article, “BlueCrest's Michael Platt named U.K.'s richest hedge fund manager in wealth list,” was originally published on May 22, 2023 on Alternatives Watch and is republished here with permission from BMV Digital, Inc.
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