Many believe Platt is the highest earning person in finance
In 2015 Michael Platt closed his hedge fund to clients and opted to go it alone.
Platt’s hedge fund; BlueCrest Management Fund - founded in 2000, managed to reach $35B at its peak.
In 2019 BlueCrest returned 53.5%. To put this into perspective the average hedge fund returned just 10.35% in 2019.
The majority of returns came from significant long fixed income positions early in the year.
This comes at a time when several hedge fund managers are leaving the industry due to poor and unexpected returns for consecutive years.
Platt wasn’t immune to this performance drop, he too experienced more difficult years which naturally led to increased pressure and questions regarding his methodology.
Platt decided to return $7B and cut ties with the distractions and stress that comes in the form of investors.
This has enabled Platt to control a smaller asset base, with increased leverage and presented the opportunity to take on more risk.
Under these new circumstances, many believe Platt is currently the highest earning person in finance globally, bringing in a reported $2B in 2019.
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