THE TOP 25 hedge fund managers in the US earned a combined $21.15bn (£12.55bn) last year, according to Institutional Investor’s Alpha magazine annual Rich List, published yesterday.
Four managers raked in more than $1bn each, with a fifth narrowly missing out on that amount to earn $950m. The highest earner was David Tepper at US firm Appaloosa Management, who made a cool $3.5bn in 2013.
To qualify for the list, managers must have earned at least $300m last year. Twenty fund managers on the 2012 list stayed put for 2013 and just five fell out of the rankings. One of those, Thomas Steyer of Farallon Capital Management, retired. Three managers made their debut in this new list: David Einhorn of Greenlight Capital, Jonathan Jacobson of Highfields Capital Management and Nelson Peltz from Trian Partners.