BlueCrest Makes $2 Billion for Owner Michael Platt in 2019

February 16, 2020 James Heinsman Company Spotlight

Last year was a great year for Michael Platt, by anybody’s standards. Four years ago the head of BlueCrest Capital Management, Platt, decided to close his fund to new investors and to dismiss his old clients, leaving him the sole owner of his hedge fund.

Platt, however, kept his trading teams working, amassing wealth exclusively for him. In 2019 BlueCrest brought home 53.5% net profit after expenses, allowing Platt to add about $2 billion to his cookie jar.

Most of the returns were not from equities investing, which did great last year, but from important long fixed income positions early in 2019.

Last year was a great year, no doubt, but ever since Platt dropped his client base, he has had excellent results, even at a time when other hedge funds have been sluggish. In 2019 the average hedge fund returned 10.35%, which is nothing to write home about when you realize that the US stock market posted 31.5% growth during the same time period.

Downsizing his business allowed Platt to increase his leverage, take on greater risk, and score higher wins. He also likes to stay out of the spotlight.

Michael Platt,

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