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The 25 hedge fund managers on the annual Rich List of AR: Absolute Return + Alpha earned a total of more than $25 billion—more than double the $11.6 billion of the top 25 in 2008. Full list available here: http://www.absolutereturn-alpha.com/Article/2453645/The-Rich-List.html
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AR UNVEILS THE HIGHEST EARNING HEDGE FUND MANAGERS OF 2009
Annual ranking shows leading moneymakers earned more than $25 billion. Appaloosa’s David Tepper is No. 1 with $4 billion.
FOR IMMEDIATE RELEASE Contact: Michelle Celarier, Editor, AR (t) 1-212-224-3021 [email protected]
New York, New York April 1, 2010 – The 25 hedge fund managers on the annual Rich List of AR: Absolute Return + Alpha earned a total of more than $25 billion—more than double the $11.6 billion of the top 25 in 2008.
The complete ranking and accompanying commentary can be found in the April issue of AR and online at www.absolutereturn-alpha.com.
The earnings of the richest hedge fund managers also exceed the record of $22.3 billion that the top 25 made in 2007. And last year—in another record—seven individuals brought home more than $1 billion each.
Appaloosa Management’s David Tepper climbed to first place on the list this year, earning $4 billion, which was even higher than the $3.7 billion that John Paulson of Paulson & Co. made when he ranked No. 1 in 2007 after making his famous bet on the housing bust.
Others who made the Rich List with more than $1 billion last year are George Soros of Soros Fund Management, with $3.3 billion; James Simons of Renaissance Technologies, $2.5 billion; John Paulson, $2.3 billion; Steve Cohen of SAC Capital Advisors, $1.4 billion; Carl Icahn of Icahn Capital, $1.3 billion, and Edward Lampert, ESL Investments, $1.3 billion. Rounding out the top ten are Ken Griffin of Citadel Investment Group, $900 million; John Arnold, Centaurus Advisors, $900 million, and Philip Falcone, Harbinger Capital Partners, $825 million.
The complete ranking and accompanying commentary can be found in the April issue of AR and online at www.absolutereturn-alpha.com
This year’s Rich List marks the ninth year of the ranking, previously published in Alpha. To be included on the list, a manager had to earn at least $350 million. In 2001, the first year of the ranking, the combined income of the top hedge fund managers was less than $5 billion—just a little more than Tepper made in 2009. At the time, 11 hedge fund managers made more than $1 million each. George Soros was No. 1, with $700 million.
The list of the 25 top managers of 2009 appears in the April issue of AR. Full results are available online at www.absolutereturn-alpha.com.
About AR AR magazine, and its online offering at www.absolutereturn-alpha.com, features a fresh and much-needed link between the hedge fund industry, its users and those who provide advisory, financial, and technological services to hedge funds. AR is a service of Institutional Investor and HedgeFund Intelligence, divisions of Euromoney Institutional Investor, the international publishing and information company. See www.absolutereturn-alpha.com for more information. Notes for editors: Institutional Investor publishes Institutional Investor magazine, which was founded in 1967 to inform, instruct and entertain members of the financial community through identifying and examining the individuals and institutions that wield power and influence in the world. HedgeFund Intelligence is the world’s leading information source on hedge funds and those investing in hedge funds, including funds of funds. It publishes performance data on more than 10,000 hedge funds and funds of funds around the globe, and its titles cover the U.S., European and Asian markets. Euromoney Institutional Investor PLC is listed on the London Stock Exchange and is a member of the FTSE-250 share index. It is a leading international business-to-business media group focused primarily on the international finance, metals and commodities sectors. It publishes more than 70 magazines, newsletters and journals, including Euromoney, Institutional Investor, and Metal Bulletin. It also runs an extensive portfolio of conferences, seminars and training courses and is a leading provider of electronic information and data covering international finance, metals and emerging markets. Its main offices are in London, New York, Montreal and Hong Kong, and nearly half its revenues are derived from emerging markets. Contact Michelle Celarier, Editor, AR (t) +1 212-224-3021 [email protected]
