Capula Investment Management, the $13bn fixed income focused hedge fund set up by former J.P. Morgan prop trader Yan Huo in 2005, shared a £138.6m compensation pot between 21 people last year – a 33% increase on the previous 12 months – according to its latest company filings.
It’s reporting season for most UK hedge funds, with the majority quietly releasing their accounts to Companies House for performance in 2011 in the past two months. They reveal some large pay figures – as the £1.5m per head at Brevan Howard last year demonstrates.
Capula, however, eclipses this. It allocated £138.6m in remuneration for its 21 ‘members’ – namely, its partners – which works out as an average of £6.6m a head.
This figure is, of course, unlikely to be spread evenly and the highest paid member – presumably Yan Huo – received £56.6m. Huo was named as the fourth highest earning hedge fund manager in Europe by Forbes in March 2012, having taken home $100m (£62.1m) in 2011.
In the 2011 financial year, Capula allocated £91.8m between 18 members (or an average payment of £5.1m), with the highest paid person receiving £26.9m.
Capula Investment Management posted an operating profit of £137.9m for the year to 31 March. The firm didn’t respond to requests for comment.
The firm has also been hiring over the past 12 months. In 2012, it added 17 people to its list of FSA-registered employees in 2012 and has expanded into Hong Kong. Stephen Heanley, a former managing director at Angel Gordon & Co, Ivan Chalbaud, a former rates trader at UBS and David Dymov from Barclays were recruited in recent months.