Israel “Izzy” Englander, President and CEO of Millennium Management LLC.
Ronda Churchill | Bloomberg | Getty Images
The top 25 highest-paid hedge fund managers hit a record $ 32 billion in 2020, up 50 percent from 2019, according to the list of institutional investors.
A total of 15 hedge fund managers earned $ 1 billion or more, compared to just eight in 2019. The big gains during the pandemic, along with the public debate on hedge funds following the GameStop controversy, likely they will attract criticism from legislators. and the public on the remuneration and equity of hedge funds in the financial markets.
The biggest winner was Israel “Izzy” Englander of Millennium Management, who earned $ 3.8 billion. Its flagship fund rose 26% last year, which was its best performance in 20 years. Like many of last year’s best-performing funds, Millennium relies more on stock selection than on quantitative strategies using computer algorithms.
Second was Jim Simons of Renaissance Technologies, who earned $ 2.6 billion. Its investors, however, did not do so well. According to the report, Renaissance Technologies ’top three funds for external investors fell from 20% to 30%. But its Medallion fund, which is aimed primarily at employees, rose 76%. Simons retired as president on January 1st.
Chase Coleman of Tiger Global took third place with a salary of $ 2.5 billion. The fund was an early investor in technology stocks and overseas plays that worked well during the pandemic, giving its fund a 48% return. His partner Scott Shleifer, the head of the Tiger’s private equity business, was tied for eighth place with $ 1.5 billion. Shleifer has just bought the most expensive home ever sold in Florida, paying more than $ 130 million for a newly built mansion in Palm Beach.
Ken Griffin of Citadel, who is at the center of the GameStop debate, came in fourth with $ 1.8 billion as his fund rose 24%. Steve Cohen of Point72 Asset Management, owner of the Mets, was tied for fifth place, along with David Tepper, both at $ 1.7 billion.
Correction: An earlier version of this story incorrectly assigned the Mets property.