Hedge Fund Rich List: Bluecrest Capital Management’s Michael Platt named the City’s richest hedge fund manager

Bluecrest Capital Management co-founder Michael Platt has been named the City’s richest hedge fund manager for the fifth year running with a fortune of £3.7bn.

Preston-born Platt, who started investing aged 14 with £500 of shares given as a birthday gift by his Grandmother, saw his wealth increased by £700m over the course of 2018 putting him £1.5bn ahead of his closest competitor. 

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In 2015 Bluecrest returned $7bn to clients to focus on investing $1bn of assets belonging to Platt and partners, allowing the billionaire to reap the returns, which were 25 per cent last year. Previous gains of 50 per cent and 54 per cent in 2016 and 2017 respectively have seen Platt, 51, shoot to the top of the Sunday Times Hedge Fund Rich List.

Robert Miller and his family’s wealth increased by £200m last year and won them in second place on the list. The family’s £2.2bn fortune is managed through Miller’s Search Investment Group.

Miller, who has a home in London and a 36,000-acre shooting range in North Yorkshire, co-founded Hong-Kong based airport retailer Duty Free Shoppers (DFS) and retains a 38.75 per cent interest in the company, with his daughter Princess Marie-Chantal sitting on the board.

Third on the list is hedge fund manager and philanthropist Sir Michael Hintze who is worth £1.5bn up £200m on last year. Hinzte is executive chairman of London-based CQS, which manages $18bn of assets.

Robert Watts, the compiler of The Sunday Times Rich List, said: “Hedgies have the potential to gain and lose wealth much faster than almost anyone else on The Sunday Times Rich List.

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“Because they personally invest heavily in their own funds they can feel the financial pain more if their operation struggles.

“But this has definitely been a better year for the hedgies on the Rich List – many who have enjoyed substantial winnings from a volatile stock market and turbulent geo-political climate.”