Sunday, 22nd November 2009

 

11 August 2008 - David Walker

Billionaire's hedge fund makes £150m

US billionaire Louis Bacon has registered a slight rise in revenue for his UK company, Moore Europe Capital Management, to £151m (€192.9m) for the year to December 31, as his flagship $6.6bn (€4.4bn) fund made 16.4% last year.

MECM, which published its annual results at Companies House last month, is a subsidiary of New York-based Moore Capital Management, which Bacon established in 1989 and which is believed to manage about $15bn in a range of alternative investment funds.

US-born Bacon, who lives in London, made his fortune as an investor by betting on macro-economic themes, which are the main focus of Moore’s business.

Revenues at MECM, from performance and management and performance fees levied on investors in the group’s products, rose 2.6% last year.

Tags: Asset Management , Results

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