Odey Asset Management partners pocket £64m in last payout before wind down
The partners of Odey Asset Management pocketed nearly £64m in its final year of operations before it began winding down last year following allegations of sexual assault against founder Crispin Odey.
In its final set of accounts filed on Companies House, Odey AM said the amount of profit that will be dished out to its 11 partners had swelled to £63.9m in the year to April 2023, up from £18.8m the previous year.
The payout will be split between the partners, with one member alone set to take £28.6m of the total profits.
Some £17.6m was spent on salaries for its 29 members of staff during the period, the accounts show. Assets under management at the firm grew to $4.4bn (£3.5bn) by April 2023 from $3.8bn (£3bn) a year earlier.
The accounts mark the final set of numbers for the firm after it announced it would be winding down following allegations of sexual assault against founder and chief Crispin Odey, who denies the allegations against him.
Odey has for years faced allegations of sexual misconduct, and in 2021 was found not guilty in a court case which accused him of indecent assault that allegedly happened in 1998.
However, in June the Financial Times and Tortoise Media said they had spoken to 13 women who alleged they were abused or harassed by the fund manager.
The incidents are alleged to have happened between 1998 and 2021. The women either worked for Odey AM or dealt with Mr Odey in a professional capacity.
Odey has denied all the allegations against him.
Additional reporting by August Graham, PA Media