According to\u00a0Bloomberg<\/a>, Griffin was one of the leaders of a pack of well-compensated hedge fund billionaires who saw their wealth expand by $7.7 billion in 2018. Griffin alone saw his fortune swell by $870 million, bringing his total net worth to $10 billion.<\/p>\n Citadel had a good year last year, but its returns didn’t include anything on the scale of George Soros’ legendary pound short or John Paulson’s bet against the housing market. So how did he do so well?<\/p>\n The answer is that funds like Citadel and Ray Dalio’s Bridgewater Associates have grown so large, they effectively throw off hundreds of millions – if not billions – of dollars in fees a year, even during relatively lean stretches for the market.<\/p>\n “We still want the mega funds to produce returns that are better than a typical hedge fund, that\u2019s why we\u2019re willing to pay the 2 and 20 percent fees,”\u00a0<\/strong>said Tim Ng, CIO of Clearbrook Global Advisors, which invests in hedge funds.\u00a0“We\u2019re willing to tolerate lower performance from some in a market like 2018 because they have for years outperformed their peers.”<\/strong><\/p><\/blockquote>\n As Bloomberg’s ranking showed…<\/p>\n …quant funds dominated the competition last year.<\/p>\n Citadel\u2019s flagship Wellington fund,<\/strong>\u00a0for instance,\u00a0returned 9.1 percent last year,<\/strong>\u00a0while the average fund lost 6.7 percent, slightly worse than the S&P 500 Index. Of course, Griffin doesn\u2019t get performance fees unless he makes a profit for his clients. As the largest investor in the funds, the billionaire\u2019s interests are aligned with theirs.<\/p>\n How did other big names stack up in 2018?<\/p>\n Quants feature heavily on Bloomberg\u2019s list, led by\u00a0James Simons\u00a0of\u00a0Renaissance Technologies.<\/strong>\u00a0The former code-breaker\u2019s fortune increased $1.6 billion to $16.6 billion,\u00a0<\/strong>according to Bloomberg estimates, making him the world\u2019s wealthiest hedge fund manager.<\/p>\n RenTech\u2019s Institutional Equities Fund gained 8.5 percent,<\/strong>\u00a0while its Medallion vehicle, closed to outside investors, did better.<\/p>\n Ray Dalio\u2019s fortune rose $1.3 billion,<\/strong>\u00a0powered by Bridgewater\u2019s\u00a0approximately $160 billion of assets.<\/strong><\/p>\n He\u2019s now worth about $16.2 billion. His flagship Pure Alpha fund gained 14.6 percent last year, while the All Weather strategy lost money.<\/p><\/blockquote>\n And while the average fund was down 6.7%, trailing the S&P 500’s ~4.5% drop, some managers crushed the competition.<\/p>\n Michael Platt\u00a0of\u00a0Bluecrest Capital Management returned 25 percent,\u00a0<\/strong>although hedge fund investors didn\u2019t benefit after he kicked out clients.\u00a0Jeffrey Talpins\u00a0of Element Capital Management had a 17 percent gain for his macro fund,<\/strong>\u00a0elevating him to billionairedom. Griffin owns one of the world\u2019s largest firms making markets in stocks and bonds. In addition to buying houses and art, he\u2019s given away more than $700 million to charity.<\/p>\n Chase Coleman\u00a0of Tiger Global Management runs a fabulously successful venture capital arm,\u00a0helping to boost his fortune to $3.9 billion.<\/strong><\/p><\/blockquote>\n And with the market in the midst of one of the best start-of-year rallies since the early 1990s, 2019 is shaping up to be an even better year across the industry…though there’s still plenty of time (and some evidence in historical market data) for things to head south from here.<\/p>\n ___ Group Of 10 Elite Hedge Fund Managers Made $7.7 Billion In 2018 ZeroHedge.com Remarkably enough considering investors just endured a year that will be remembered as one of the worst for cross-asset performance in recent memory, Citadel founder and hedge … Continue reading ![\"Griffin\"](\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/Screen%20Shot%202019-02-16%20at%202.43.53%20PM.png\")
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<\/a><\/p>\n![\"Quant\"](\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/Screen%20Shot%202019-02-16%20at%202.40.50%20PM.png\")
<\/a><\/p>\n
\nFor several people on the list, hedge funds are just a component of their businesses.<\/p>\n
\nhttps:\/\/www.zerohedge.com\/news\/2019-02-16\/group-10-elite-hedge-fund-managers-made-77-billion-2018<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"