Hedge fund’s pay bo­nanza is over

The Sunday Telegraph - Money & Business - - Business - By Lucy Bur­ton and Jack Tor­rance

THE gold rush at the hedge fund once famed as the City’s high­est payer has slowed as records show that its best­paid ex­ec­u­tive pock­eted £80m less than he did 10 years ago.

Pri­vately owned fund Sloane Robin­son used to be one of the most lu­cra­tive places to work in fi­nance, no­tably pay­ing one of its se­nior man­agers £87.3m at its peak in 2008. But pay­outs have dwin­dled since the fi­nan­cial cri­sis.

Ac­counts filed with Com­pa­nies House show that its high­est earner pock­eted £1.2m for the year to March, while the group’s 14 mem­bers split £10.9m be­tween them. Al­though an in­crease on the year be­fore, the pay pales in com­par­i­son to the £340m shared by part­ners in 2008.

The £1.2m pay­day for the un­known mem­ber is also sig­nif­i­cantly less than the amount earned by some of the com­pany’s City ri­vals. Hedge fund bil­lion­aire Chris Hohn took home a £215m div­i­dend last year, while the founder of Cedar Rock Cap­i­tal paid him­self £43m.

Sloane Robin­son has backed a num­ber of blue-chip names in­clud­ing Tesco, Next, Chi­nese in­ter­net gi­ant Baidu and Ac­tivi­sion Bliz­zard, the US games de­vel­oper be­hind ti­tles such as

Call of Duty and World of War­craft.

It is un­clear from Sloane Robin­son’s fil­ings how much its high­est-paid part­ner took home last year. But a source close to the com­pany said the per­son did not earn ma­te­ri­ally more in 2018, de­spite turnover at the busi­ness rock­et­ing 78pc to £18.4m.

The fund was co-founded by Hugh Sloane and Ge­orge Robin­son in the early Nineties and has made mul­ti­mil­lion­aires of the two men. Mr Sloane, who is thought to have an es­ti­mated for­tune of £185m, gave Bris­tol Univer­sity a £10m dona­tion in 2017, its largestever phil­an­thropic gift.

The pay­outs com­pare with £120m handed to four top staff at Marathon As­set Man­age­ment, re­vealed last week. An­other fund, Cheyne Cap­i­tal, split £37m among 23 staff.

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