British hedge fund industry is booming. London is only second to New York in the number of hedge funds.
According to the latest list of UK’s richest hedge fund managers compiled by Sunday Times, Alan Howard, the founder of Brevan Howard Asset Management, is on the top spot with a comfortable margin. Howard’s net worth stands at £1.4 billion. He is followed by Winton Capital Management’s David Harding, with a net worth of £900 million.
Though the difference between the wealth of Howard and Haring is huge (£500 million), there isn’t much disparity in the wealth of Harding and the hedge fund managers on the third and fourth spot. Pamplona Capital’s Alexander Knaster is worth £885 million, while Moore Capital’s Louis Bacon has £820 million in the bank.
Knaster and Bacon both failed to even appear in the richest hedge fund managers list in April. Michael Platt, the chief of BlueCrest Capital Management, is on the fifth spot with £650 million. Platt and Howard no longer live in Britain, but they are eligible for the list as British citizens. CQS’ Michael Hintze occupies the sixth spot with £580 million.
Crispin Odey, the founder of Odey Asset Management, made it to the list of wealthiest hedgies in the UK. He, along with his wife, is on the 7th rank, with an estimated fortune of £455m. Odey is one of the most popular hedge fund managers to feature in the top 50. Silchester International’s Stephen Butt is the 8th richest British hedge fund manager with, £380 million. Winton’s Osman Murgian is on the 9th spot with £300 million.
The hedge fund industry is now the second biggest financial center in Britain. London alone has over 650 active hedge funds, with combined assets under management of £250 billion. However, none of the top nine hedges stand in the list of the UK’s 20 richest individuals.