(Bloomberg) - Bloomberg’s ranking of hedge fund manager income shows the top 15 individuals made about $15.8 billion last year.
The list used Securities and Exchange Commission filings, company websites and news reporting to determine assets under management. Those figures are for the start of 2021 and don’t include asset inflows and outflows during last year.
Fee details were taken from regulatory filings and reporting. Where there was no disclosure, Bloomberg assumed a 2% management fee and 20% performance fee. Management fees aren’t included as part of the profits.
Some firms run dozens of individual funds and strategies. Bloomberg’s analysis only includes the largest and most material hedge and long-only funds within the investment firms.
Certain hedge fund managers hold significant assets outside of traditional hedge fund activities, including venture capital or low-fee strategies, which also aren’t included in the analysis.
The information on how much each hedge fund owner had invested in their own funds comes from SEC filings, reporting and calculations done previously for the Bloomberg Billionaires Index. Ownership percentages of firms are based on regulatory filings and reporting. Phantom equity interests in firms may mean ownership is overstated.
Gross performance fee figures are estimated using previously reported annual return data for funds in the analysis and from filings. In most cases, Bloomberg assumes that half of the performance fees were distributed to employees and reinvested in the firm, with the owners collecting the other half. Information on the 2021 annual return for the Medallion Fund managed by Renaissance Technologies, wasn’t available. Its performance was estimated using its 10-year performance average.
By Tom Maloney
