6 Hedge Fund Managers in the Ranks of the World’s Billionaires
According to a report released by Nathan Vardi from Forbes, there are six hedge fund managers joining the ranks of the world’s billionaires.
There are now 46 billionaires in the world who have derived most of their wealth from managing hedge funds. These hedge fund billionaires have made their fortunes by trading everything from stocks to bonds, options, currencies, mortgages and derivatives in financial markets. The money making machines of these hedge fund billionaires, however, have also been fueled by the rich fees they charge their investors.
Michael Platt spent nearly a decade at JP Morgan before cofounding BlueCrest Capital Management in late 2000. The firm, which is based in London and Geneva, has amassed $35 billion in assets under management, making it one of Europe’s biggest hedge fund firms. Platt bought the stakes of his partners in BlueCrest, including minority owner Man Group, in 2011. His funds did not perform very well last year, but he is now worth $3.6 billion. Other new hedge fund billionaires include Francis Biondi and Brian Higgins, cofounders of King Street Capital Management, and Christopher Hohn, who runs The Children’s Investment Fund Management, a London-based activist hedge fund.Source: Forbes