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High-paying hedge fund ramps up compensation and headcount

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Following an uptick in revenues, Capula Investment Management, the $13bn hedge fund set up by former J.P. Morgan trader Yan Huo, has hired more partners and research staff over the past year. It’s also bolstered pay.

Capula has traditionally been one of the highest paying hedge funds in the UK, but a dip in performance last year meant it cut pay for members of its LLP to a ‘mere’ £2.2m average per head. This was, however, less than half that of the previous year, when it split £138.6m between 21 partners.

Performance for the year to 31 March 2014 – accounts for which have just been released on Companies House – show that the hedge fund is still a long way from the dizzy heights of 2012, but performance has improved.

Revenues were £141.3m for the year, up from £106.5m in 2013.  Pay increased, but not to the same degree as revenues. Capula's 25 partners received an average of £2.64m per head Share on twitter, but many will have received less. The highest paid member – presumably Huo himself – was allocated £17.6m, up from £12.3m in 2013.

Outside of the partnership, Capula has been adding front office headcount – albeit while making some minor cuts in the back office. It now has a total of 97 staff, an increase of two on the previous year, but it added eight people in research functions.

Capula employs 26 people in research, 27 in portfolio support and 44 in administration (down from 49 in 2013).

Throughout last year the hedge fund made some significant hires. Mathias Berenger, managing director and head of European vanilla options trading at Credit Suisse, joined in April, while Cyril Levy-Marchal, J.P. Morgan’s head of equities trading in Asia, signed up in May last year.

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