ALAN Howard, the founder of the Brevan Howard asset manager, has been named Britain’s richest hedge fund manager with a fortune valued at £1.5bn.
This makes him the 48th richest person in Britain according to this year’s Sunday Times Rich List, which will be published this weekend.
Howard, 49, became famous after making the canny decision to liquidate most of his fund’s assets in the run up the financial crisis. It paid £77.2m in bonuses to just 49 traders last year.
Last month the hedge fund agreed to give more than £20m to Imperial College – Howard’s alma mater – with the objective of setting up an economic research division in the company’s name.
The only other billionaire on the hedge fund rich list is Alexander Knaster of Pamplona Capital Management.
Crispin Odey, a well-known name in a secretive industry, takes sixth place on the hedge fund rich list with wealth estimated at £450m.
In total 61 hedge fund managers worth at least £75m are included on the main list of Britain’s 1,000 richest individuals.