Hedge-fund managers get biggest payday in history |
| MarketWatch - Apr 16, 2008 |
Top hedge-fund managers had the greatest payday in the modern history of finance during 2007, according to Institutional Investor's Alpha magazine.
The publication released its seventh annual ranking of the top-paid managers on Wednesday.
The top spot in Alpha's 2007 rankings went to John Paulson of Paulson & Co., who took in a record $3.7 billion. Paulson gained attention by his investment strategy to short the subprime mortgage market.
According to Alpha, the top 25 managers averaged $892 million in earnings, up 68% from the $532 million they earned on average in 2006. Five managers earned more than $1.5 billion -- a reflection of how much the industry has grown and how much money was to be made in high-powered finance, even in a year of crisis.
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- Posted: 2008-04-16 09:01:26
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