Israel “Izzy” Englander, chairman and chief govt officer of Millennium Administration LLC.
Ronda Churchill | Bloomberg | Getty Pictures
The 25 highest paid hedge fund managers made a document $32 billion in 2020, up greater than 50% over 2019, in response to Institutional Investor’s Wealthy Checklist.
A complete of 15 hedge fund managers made $1 billion or extra, in contrast with solely eight in 2019. The massive positive aspects throughout the pandemic, coupled with the general public debate over hedge funds within the wake of the GameStop controversy, is probably going to attract criticism from lawmakers and the general public over hedge fund pay and equity in monetary markets.
The highest earner was Israel “Izzy” Englander of Millennium Administration, incomes $3.8 billion. His flagship fund was up 26% final 12 months, which was its greatest return in 20 years. Like lots of the top-performing funds final 12 months, Millennium depends extra on inventory choosing than quantitative methods utilizing laptop algorithms.
In second place is Jim Simons of Renaissance Applied sciences, who earned $2.6 billion. His traders, nonetheless, did not do as effectively. Renaissance Applied sciences’ three important funds for outdoor traders have been down 20% to 30%, in response to report. However its Medallion fund, which is principally for workers, was up 76%. Simons retired as chairman on Jan. 1.
Chase Coleman of Tiger World got here in third place, with a $2.5 billion payday. The fund was an early investor in tech shares and abroad performs that did effectively throughout the pandemic, giving his fund a 48% return. His associate Scott Shleifer, the top of Tiger’s non-public fairness enterprise, was tied for eighth with $1.5 billion. Shleifer simply purchased the most costly dwelling ever bought in Florida, paying greater than $130 million for a newly constructed mansion in Palm Seashore.
Ken Griffin of Citadel, who’s on the middle of the GameStop debate, got here in fourth, with $1.8 billion as his fund was up 24%. Steve Cohen of Point72 Asset Administration was tied for fifth, together with Mets proprietor David Tepper, each at $1.7 billion.