Hedge fund staff share £120m

The Sunday Telegraph - Money & Business - - Business - By Jack Torrance

THE 23 top staff at one of Lon­don’s largest hedge fund man­agers shared more than £120m in pay­outs last year de­spite slump­ing prof­its.

Pay­outs at May­fair-based Ca­pula In­vest­ment Man­age­ment, which spe­cialises in fixed-in­come in­vest­ments such as gov­ern­ment bonds, were down from a bumper £211m the pre­vi­ous year af­ter prof­its fell by a sim­i­lar amount.

Ca­pula’s big­gest bene­fac­tor, thought to be its founder Yan Huo, re­ceived a £36m cut, down from £72m.

Mr Huo, an Amer­i­can, grad­u­ated from Prince­ton with a doc­tor­ate in elec­tri­cal en­gi­neer­ing be­fore mov­ing into fi­nance and lead­ing JP Morgan’s fixed-in­come trad­ing team. He started Ca­pula with for­mer UFJ trader Masao Asai in 2005 and is among the UK’S wealth­i­est hedge fund bosses with a for­tune thought to be about £500m.

The fund was backed by Gold­man Sachs and the Ja­panese con­glom­er­ate Mit­subishi, which sold their mi­nor­ity stakes in 2016 and 2018 re­spec­tively.

Ca­pula did not re­turn re­quests for com­ment.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.