Despite the fact that roughly half of all hedge funds lost money last year, paychecks are up for the top managers, according to Institutional Investor. Bobbi Rebell reports.
Not a great year for hedge fund investors in 2015 but some managers made quite a windfall. According to Institutional Investor's Alpha rankings, the top managers took home 10 percent more than the previous year, even though about half of all hedge funds lost money last year. Five men earned more than a billion dollars each in 2015. A tie at top: Citadel's Kenneth Griffin, whose fund had a banner year, and Renaissance Technologies' James Simons, a former code breaker who launched his fund in 1982. Each took home $1.7 billion in 2015. Together, the 25 best-paid hedge fund managers took home $13 billion. The lucrative pay came as the average hedge fund lost 1 percent in 2015. Some managers, including Larry Robbins and William Ackman actually lost more money than the high earners themselves made. They did not make this years list.