While other parts of the economy took a kicking amid the pandemic, the hedge fund elite seemed to weather the storm.
Institutional Investor’s 20th edition of its Rich List reveals the top 25 hedge fund managers banked a cool $32bn last year. Overall hedge funds returned 11.6 per cent last year, their best performance in 10 years.
The huge gains are likely to draw criticism during the pandemic as well as the debate triggered by the Gamestop frenzy.
A total of 15 hedge fund managers made more than $1bn, compared with eight the previous year.
Israel Englander of Millennium Management topped the list after making $3.8bn last year. His flagship fund was up 26 per cent last year, its best return in two decades.