Hedge fund hands £200m pay packet to its partners

EUROPE’S largest hedge fund, Brevan Howard, has shared more than £200m in pay between a small team of partners.

The firm split £204m between 38 of its top partners, including co-founder Alan Howard, according to accounts filed at Companies House.

A large allocation of the funds will go to Brevan Howard Services, the company which runs office costs and payroll for more than 350 staff employed by the company.

Swiss reinsurer Swiss Re, which bought a 15 per cent non-controlling stake in the fund in 2007, will also benefit from the payment.

The firm enjoyed a stellar year on its hedge funds, amassing £763.3m in fees, from which the company made a profit of £687.9m, according to figures for the year to March 2010.