Each year I chronicle the hedge fund managers who personally make the most money in a single year. Institutional Investor‘s sister publication, AR Magazine, will be publishing their now-famous Hedge Fund Rich List soon.
However, you couldn’t blame investors in these funds for asking, “What has he done for me?”
Well, Rick Sopher has the answer. The Managing Director of LCH Investments, a London-based fund of funds affiliated with Edmond de Rothschild Asset Management Ltd., a London-based fund of hedge funds, did some calculations to determine which hedge funds produced the greatest net gains for their investors since inception.
It makes for very interesting reading. Altogether, Sopher calculated that the 10 most prolific managers alone have generated $154 billion in profits for their investors. This data is as of June 30, 2010. He is currently calculating the results for the most recent year.
So who made the list? Here are the back five; click through to see the big winners at Institutional Investor.
10. Ed Lampert, whose ESL Partners has raked in $9.5 billion in profits.
9. Steve Cohen, with $10.96 billion in profits since 1992.
8. Louis Bacon of Moore Capital Management, who has made $11.5 billion since 1990.
7. David Tepper, whose Appaloosa fund has made $12.4 billion in profits since its inception.
6. Alan Howard of Brevan Howard Fund, with $12.495 billion in profits.