BlueCrest’s Michael Platt named richest hedgie for fifth consecutive year
Mr Platt bumped up his wealth by 23% to £3.7 billion in 2018, making him £1.5 billion richer than his nearest rival.
Star fund manager Michael Platt has been named the City’s richest hedgie for the fifth year in a row, after his wealth surged by £700 million.
Mr Platt, co-founder of BlueCrest Capital Management, bumped up his wealth by 23% to £3.7 billion in 2018, making him £1.5 billion richer than his nearest rival.
Robert Miller and Princess Marie-Chantal of Greece trail in second place on The Sunday Times’ list of the richest hedge fund managers.
Mr Miller, who founded Search Investment Group and built his fortune through investments in duty free, increased his and his family’s wealth by £200 million to a total of £2.2 billion.
CQS’ Sir Michael Hinze, a Conservative party donor and former captain in the Australian army, remained in third place after his fortune rose by £120 million to £1.5 billion.
Sir Chris Hohn, of TCI Fund Holdings, jumped one spot to fourth on the list after his wealth rose £200 million to £1.2 billion, after profits increased to £402 million at his hedge fund and he sold most of his stake in the London Stock Exchange.
Brevan-Howard co-founder Alan Howard ranked fifth after his fortune rose by £30 million to £1.04 billion, a year after he returned to the UK from Switzerland.
The highest riser in the Hedge Fund Rich List is Pelham Capital owner Ross Turner, who saw his wealth jump by £326 million to £626 million and rocketed ten places up the rankings to ninth.
The total value of the twenty richest hedge fund manager rose by 13% to £18.1 billion over the past year.
Robert Watts, compiler of The Sunday Times Rich List, said: “Hedgies have the potential to gain and lose wealth much faster than almost anyone else on The Sunday Times Rich List.
“Because they personally invest heavily in their own funds, they can feel the financial pain more if their operation struggles.
“But this has definitely been a better year for the hedgies on the rich list – many who have enjoyed substantial winnings from a volatile stock market and turbulent geo-political climate.”