Unfortunately-Timed Bonus Watch ’21: Rokos Capital Management
Chris Rokos & co. had a very good year in 2020. And in the hedge fund industry, 44% returns translate into some very big bonuses.
Billionaire Chris Rokos and his partners paid themselves 914 million pounds ($1.2 billion)…. Roughly 509.4 million pounds of that total went to Rokos himself for the year ending March 2021, the most since he started trading for his hedge fund firm….
Not for the first time in his career, however, has a very good year preceded a very bad year for Rokos, a began just as he was handing himself a $688 million slice of investors’ profits he was about to squander.
The payout followed the 44% return that the macro trader generated in 2020, which helped lift his firm’s revenue by nearly four times to more than 1 billion pounds for the period, according to the filing. The $12 billion firm was on track to post a record loss last year, having slumped 25% through November.
Awkward. Anyway, that means he’s got some excess capacity and apparently a whole host of people and institutions who remember what happened last time he raised a bunch of money.
The macro trader pulled in $1 billion of new cash this week and is in talks with investors to raise more capital, according to a person with knowledge of the matter…. The firm raised the money despite investors pulling cash from macro hedge fund peers last year. The strategy suffered $6.7 billion in net withdrawals through November, according to data compiled by eVestment.
Chris Rokos and Partners Were Paid $1.2 Billion Before Hedge Fund Slid [Bloomberg]
Rokos’s Hedge Fund Raises $1 Billion After Record Annual Loss [Bloomberg]
