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Just in time for Valentine’s Day comes the romantic story that the the 83 year-old hedge fund manager made a ton of money in 2013, and about 80%* it before his September 21st nuptials and can therefore keep to himself,** should this marriage should end in a similar manner to his first two.
The investment fund that had the biggest gains in 2013 was Soros Fund Management LLC’s Quantum Endowment fund, which made $5.5 billion, according to LCH. Since its inception in 1973, Quantum has made $39.6 billion, more than any other firm, LCH said. George Soros, 83, decided in 2011 to return outside money in his hedge-fund firm to clients, turning the company into a family office.
Stephen Mandel, Andreas Halvorsen, David Tepper and John Paulson also counted their investment gains in multiple billions last year. As did Ray Dalio, demonstrating that while 5.3% is not an impressive return at all, 5.3% of $79 billion is still a hell of a lot of money.
Mandel earned an estimated $5.2 billion for clients last year, Halvorsen made them $4.5 billion and Tepper $4.2 billion….
John Paulson returned to form in 2013 by netting clients $2.6 billion, according to LCH’s report….
Bridgewater’s $79 billion Pure Alpha fund generated gains of $2.4 billion, while Brevan Howard, based in St. Helier on the island of Jersey, made clients of its $28 billion Master Fund about $500 million in 2013, LCH said.
Mandel Tops Best-Earning Hedge Funds for Clients in 2013 [Bloomberg]
*Ridiculous ballpark, etc.
**I mean, he probably doesn’t have to share any of it with her, as there was most likely a voluminous prenup but maybe he was feeling romantic this time around.