Partners to split huge £720m pot: Marshall Wace hedge fund Rainmakers set to receive blockbuster payouts after bumper year
Rainmakers at London-based hedge fund Marshall Wace are set to receive blockbuster payouts after a bumper year.
Twenty-three partners will share profits of nearly £723m – double the £322m made the previous year – after a fee hike boosted revenue by 62% to £1.5bn of pounds sterling.
An anonymous partner will take home around £322m, leaving the other 22 with an average of £18m each. The group of 23 includes another company.
Hit payouts: Twenty-three partners will share nearly £723m in profits
Marshall Wace was founded in 1997 by Brexit-supporting investor Paul Marshall, father of former Mumford & Sons bandmate Winston Marshall, and financier Ian Wace.
It manages around £50 billion in assets and is considered one of the best hedge funds in the world.
Marshall and Wace are estimated to have fortunes worth over £600million.
The fund relies on computer analysis for much of its investment strategies as well as monitoring recommendations from investment banking analysts.
Investment banks and hedge funds have boomed in the post-pandemic era as low interest rates and a resurgence in activity following the easing of lockdown restrictions sparked a flurry of deals and transactions, allowing those involved in the process to reap billions of dollars in fees and investment gains.
But those funds are now turning the other way, as the faltering global economy and instability sparked by the war in Ukraine have them looking for ways to cash in on the recession.
In September, it was reported that Marshall Wace was part of several hedge funds betting that the shares of major UK asset managers such as Abrdn and Ashmore would fall as economic fears hit their performance and left them struggling to attract new investors. new business.
