Jewish Hedge Fund Managers Continued to Excel in 2015

0
5

L-R George-Soros-John Paulson - David Tepper -Seth Klarman - Stephen Mandel

 

 

business-insider-logo London-based fund of funds LCH Investments, a subsidiary of  Edmond de Rothschild Capital    Holdings Limited, recently released its annual top 20 “most successful money managers” list for  2015.

The list measures net gains, after fees, of hedge fund managers since their respective fund’s inception. We’ve included the top five out of Business Insider’s seven hedge fund managers.

Collectively, all seven titans have made their investors net gains of $199.5 billion since they began their funds. Last year, they raked in $5.1 billion as a group. Two of the top fund managers had a losing year in 2015.7. John Paulson (Paulson & Co.) Reuters

Net gains in 2015: -$2.1 billion

Net gains since inception: $21.4 billion (1994)

Fund’s assets under management: $15.6 billion

Paulson’s net worth: $11.4 billion

Highlights: In 2015, John Paulson fell from the No. 3 spot on the list to No. 7. He became famous for his 2007 bet against subprime housing; it made him and his investors billions. Since then his returns have been volatile, and his fund’s assets have dropped from a peak of $38 billion in 2011 to about $15.6 billion. Just last month Paulson pledged his personal wealth as collateral for a line of credit for his fund from HSBC USA.

 

John Paulson 640x360

7. John Paulson (Paulson & Co.)

Net gains in 2015: -$2.1 billion

Net gains since inception: $21.4 billion (1994)

Fund’s assets under management: $15.6 billion

Paulson’s net worth: $11.4 billion

Highlights: In 2015, John Paulson fell from the No. 3 spot on the list to No. 7. He became famous for his 2007 bet against subprime housing; it made him and his investors billions. Since then his returns have been volatile, and his fund’s assets have dropped from a peak of $38 billion in 2011 to about $15.6 billion. Just last month Paulson pledged his personal wealth as collateral for a line of credit for his fund from HSBC USA.

STEPHEN MANDEL

 

6. Stephen Mandel (Lone Pine Capital)

Net gains in 2015: $1.2 billion

Net gains since inception: $22.4 billion (1996)

Fund’s assets under management: $29.5 billion

Mandel’s net worth: $2.4 billion

Highlights: Lone Pine Capital is led by the billionaire Steve Mandel, who worked at legendary hedge fund Tiger Management early in his career. The fund is now part of a group of funds launched by Tiger alumni known as “Tiger Cubs.”

Mandel is betting on companies that dominate the web in 2016, according to an investor letter.

Lone Pine’s Cascade fund, its long-only fund, rose 1.4% in the fourth quarter to end 2015 down 1.2%. Meanwhile, Lone Pine’s Cyprus fund rose 4.6% in the fourth quarter, ending the year up 8.7%, while its Kauri fund rose 4.4% in the quarter to end 2015 up 8.9%.

As of the end of 2015, the Cascade fund’s 10 largest long-stock positions were Microsoft, Amazon, Tencent Holding, Facebook, Visa, Dollar Tree Stores, Williams Companies, FleetCor Technologies, JD.com, and Charter Communications. The fund trimmed some of its stake in embattled Canadian drug company Valeant Pharmaceuticals.

 

SX00164_9 Seth Klarman  president of The Baupost Group BLOOMBERG 1

4. Seth Klarman (The Baupost Group)

Net gains in 2015: -$800 million

Net gains since inception: $22.6 billion (1983)

Fund’s assets under management: $27 billion

Klarman’s net worth: $1.38 billion

Highlights: In 2015, The Baupost Group had its third losing year in its 33-year history. Klarman described it as a year of “dodging relentlessly falling knives.”

The fund’s public-investments portfolio fell 6.7% in 2015, while the fund’s private investments gained 2.4%, according to a separate investor update seen by Business Insider. The fund’s public-investment returns were largely dragged down by Cheniere Energy, Micron Technology, Keryx Biopharmaceuticals, and Antero Resources.

 

Key Speakers At The Robin Hood Foundation Investors Forum

 

3. David Tepper (Appaloosa)

Net gains in 2015: $1 billion

Net gains since inception: $22.8 billion (1993)

Fund’s assets under management: $17.9 billion

Tepper’s net worth: $11.6 billion

Highlights: Lately, Tepper has been going after embattled solar-energy company SunEdison, the parent company of one of his holdings. He’s taken a stake in TerraForm Power, one SunEdison’s yieldcos.

 

George Soros Attend Senate Hearing On Energy Market Manipulation

2. George Soros (Quantum Endowment Fund)

Net gains in 2015: $900 million

Net gains since inception: $42.8 billion (1973)

Fund’s assets under management: $29 billion (family office)

Soros’ net worth: $24.5 billion

Highlights: Quantum Endowment Fund, a family-office hedge fund, dropped from the No. 1 spot on last year’s list to No. 2. Quantum, which had been led in recent years by Soros’ protégé Scott Bessent, made $900, 000, 000 in net gains for 2015, the report said.

Bessent just started his own hedge fund, Key Square Group, this month and will be managing nearly $4.5 billion in assets, making it one of the largest launches of all time.

Soros has retired from the day-to-day operations of his fund, and is now focused on his foundations and philanthropy. At the World Economic forum in Davos this month, he sounded really bearish, saying that the next crisis will stem from China and the deflationary forces it’s transmitting to the rest of the world.

 

This article was first published at Business Insider, by Julia La Roche

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.