Top hedge fund Moore Europe Capital rises despite Coffey exit

 
Michael Bow
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THE UK division of hedge fund Moore Capital recorded higher profits last year after a steep rise in revenues, newly filed accounts reveal.

Moore Europe Capital Management, which was home to star trader Greg Coffey until his retirement last October, said members’ profits rose to £32.2m from £31.7m a year earlier.

Revenues rose 23 per cent to £95m for the 12 months ending December 2012, the filing at Company’s House shows.

US hedge fund manager Louis Bacon founded the investment company in New York 24 years ago.

Accounts show Moore Europe Capital’s membership was made up of seven people for 2012, including Bacon and Coffey, and one company, Moore Europe Capital Development. The accounts record Coffey as having resigned as a designated member on 17 October 2012. He subsequently retired from investing, having made his name before Moore Capital at hedge fund GLG.