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London Hedge Fund Pays Partner $34M Despite Losses

May 16, 2013
Jing Chen

Commodity hedge fund Clive Capital's Chris Levett was paid $33.5 million last year despite the firm's second consecutive year of losses.

Bloomberg reported that the three partners at London-based Clive, which declined 8.8% last year and 10% in 2011, received a total of $39.2 million in the 12 months ending in February, including Levett's share. The article also said that the firm paid its highest-paid executive a whopping $60.8 million in the previous year, although it was not specified who was awarded the payment. 

Clive paid its 11-member staff $3.5 million and gave $553,000 to charity last year.

Founded in 2008 by Levett after he left Louis Bacon's hedge fund firm Moore Capital Management, Clive stopped taking money from investors in 2009 after assets climbed to nearly $4 billion.

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