Highest earning portfolio managers

I'm in cal BC right now and I was wondering we all hear about how much top hedge fund managers make but we never hear about how much their rainmakers bring in. Saw a comment that said Grant wonders ( Viking ) brought in 30mn in a year and the Pershing square guy who thought of the CDS trade made 20mn. Jesse Cohn ( Elliot) is selling his NY penthouse for 39mn  so that probably put his nw at maybe 100mn? 
I'm really curious plus I don't care if it's a SM or MM fund

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  • VP in AM - Equities
May 12, 2021 - 4:44pm

Will be guys there at the big LOs doing that and maybe more

Will Danoff for example runs $138bn at an 86bps average fee. So he brings in $1.2bn of revenue to Fidelity every year - that is huge. Probably a decent chunk of that AUM will leave if he leaves. He has been there for 35 years so had plenty of time to negotiate a good deal.

How much does he get of that? 5% of the revenue he brings in each year is $60m. 10% is $120m. Both are far less than Abby Johnson will lose if he leaves. At his level it all comes down to what he negotiates, but he could very easily be making $50-100m+/ year..

Can run similar thinking for a lot of the biggest LO guys.

  • Analyst 1 in Consulting
May 14, 2021 - 4:50pm

did a role at a top MM HF last summer where i had access to comp/performance data for all PMs. by the summer, one of the PMs had made 1b+ for the firm and he gets a 20% cut.

  • Associate 1 in IB-M&A
May 15, 2021 - 6:18pm

did a role at a top MM HF last summer where i had access to comp/performance data for all PMs. by the summer, one of the PMs had made 1b+ for the firm and he gets a 20% cut.

Extremely rare (if true at all) for a PM in an MM structure to make $1b PnL AND get a 20% cut. PM must be running a multibillion book and fund must be charging well north of 20% performance fees to justify paying him/her that cut. Not many out there and would think the fund would be extremely discreet about comp like this to prevent any leaks like this.

  • Investment Analyst in HF - EquityHedge
May 15, 2021 - 7:17pm

Every single MMHF has bonuses get expensed prior to performance fees/management fees so that logic is just not accurate. Every PM has about 20% fee in writing so that's very standard.

I do agree that the 1b pnl is unreal tho.

May 15, 2021 - 6:04pm

Bruh ur gonna get a dose of reality check when one of your positions eventually blows up if u ever make it to one of these funds and then u won't be asking this question Lmao

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