American hedge fund in London is paying £418k, 12% less than last year
If you’re worried that your hedge fund might cut your compensation if its performance even slightly dips, have no fear: you’ll still be eye-wateringly well-paid.
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Sculptor Capital Management posted full year 2023 results for its London subsidiary, Sculptor Capital Management Europe Limited, last week. The numbers were a mixed bag – and the fund’s employees may not be happy. Not with their pay, at least.
The firm paid its 41 staff an average of £418k ($554k) in 2023, a tidy sum, and very much on par with what other hedge funds in London are paying. That seems like pretty good news. The bad news is that in 2022, the firm paid an average of £476k ($631k). Headcount was the same throughout both years.
Sculptor Capital Management Europe Limited's turnover stayed more or less flat, down just 1.5%, while the firm’s main revenue driver, investment advisory fees, inching upwards 1.1% - the fall was related to secondment fees. Profit for the financial year was also down less than 2%.
Sculptor was known, once upon a time, as Och-Ziff. It rebranded in 2017 as OZ Capital, and then 2019 as Sculptor Capital Management. Part of that initial rebrand was related to a court case related to bribing officials in the Democratic Republic of Congo and Libya – but its rebrand away from “Och” also came after the departure of founder and hedge fund pioneer Daniel Och, according to Institutional Investor, who cast a “long shadow” across the firm.
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