Pay rose at hedge fund Tudor Capital Europe as profits soared

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Pay rose at hedge fund Tudor Capital Europe as profits soared

Last year may have been a tough one at quantitative hedge fund AQR Capital Management in London, but not all hedge funds had an equally terrible time. Tudor Capital Europe has just released its results for the year ending March 2021, and pay and profits last year rose considerably.

In the 12 months to March, turnover at Tudor went to $175m, up from $92m a year earlier. Operating profits went from $45m to $82m and profits available for distribution among Tudor's members (partners) rose correspondingly from $44m to $79m.

Given that Tudor Capital Europe only has nine members, this would seem to suggest that its European partners did very well indeed. However, while some members are actual people (eg. Ben Kitchener and Toby Lodge) there's also corporate member called Tudor Overseas Holdings LLC, based in America, which undoubtedly received the highest $14m profit allocation. Nonetheless, that still left an average $8m each for the remaining eight individuals.

Tudor's mere employees didn't do badly either last year. There were 77 of them in 2020-2021 (38 in admin, 39 in investment management), and Tudor spent $21m on their compensation - an average of $268k per head, up from $213k in 2019-2020. 

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