British business people: The top 1,000:
Private equity and hedge funds 21 to 100
By Andrew Cave
Last Updated: 12:04am BST 29/04/2008
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The Telegraph is spotlighting the 1,000 most powerful in British business. These top-ranked
British-based business people will be drawn from a range of industries.
We've divided British business into ten broad sectors. We are running a top 100 list in each
sector, highlighting the achievements, colourful backgrounds and in some cases the unusual
personal interests of the highest-placed executives.
There is no objective way to compile such a broad-based list, so it is unashamedly subjective.
This is not a rich list, nor one confined to British nationals, though in the majority of cases
those on it spend most of their time in the UK.
Today we're examining some of the figures in the world of hedge funds, private equity and
f British business people: The top 1,000
B Hedge funds, private equity and fund management: 20-1
21: Jeremy Coller, chief executive Coller Partners
22: Pierre Lagrange, founding partner, GLG Partners
23: Roger Jenkins, head of private equity, principal investments and structured capital,
24: Lord Browne, managing director, Riverstone Holdings
25: Martin Clarke, partner, Permira
26: Michael Dobson, chief executive, Schroders
27: Robert Easton, managing director, Carlyle Group
28: Stephen Peel, managing director, Texas Pacific Group
29: Michael McLintock, chief executive, M&G
30: Donald Mackenzie, managing partner and co-head of global investments, CVC Capital
31: Lyndon Lea, founding partner, Lion Capital
32: Joseph Baratta, senior managing director, Blackstone Group
33: Hughes Lepic, co-head of European Private Equity, Goldman Sachs
34: Dick Munton, founding partner, Cinven
35: Peter Clarke, chief executive, Man Group
36: Brian Magnus, co-head of European private equity, Morgan Stanley
37: Guido Padovano, managing director, Merrill Lynch Global Private Equity
38: Adrian Beecroft, senior managing partner, Apax Partners
39: Michael Marks, chairman, New Smith Capital
40: Sir Brian Williamson, chairman, Electra Private Equity
41: Peter Taylor, chief executive, Duke Street Capital
42: Jonathan Russell, global head of buyouts, 3i Group
43: Gordon Bonnyman, Charterhouse Development Capital
44: Colin Buffin, joint managing director, Candover
45: Mark Anson, chief executive, Hermes
46: Kurt Bjorklund, co-managing partner, Permira
47: Tom Lister, co-managing partner, Permira
48: David Law, European head of financial sponsors, Morgan Stanley
49: Tony Wyles, co-founder Vitruvian Partners
50: Lord Hollick, managing director Kohlberg Kravis Roberts
51: Stephen Grabiner, leader of global media team of Apax Partners
52: Stephen Heinz, co-founder, Lansdowne Partners
53: Edward Bonham-Carter, chief executive, Jupiter Asset Management
54: David Smith, chief investment director, GAM
55: Charles Sherwood, partner at Permira
56: Hugh Sloane, co-founder, Sloane Robinson
57: George Robinson,co-founder, Sloane Robinson
58: Elena Ambrosiadou, chief executive Ikos
59: Crispin Odey, Odey Asset Management
60: Jonathan Bloomer, Cerberus Capital Management
61: Jonathan Feuer, managing partner and co-head of UK investments, CVC Capital
62: Michael Alen Buckley, executive chairman, RAB Capital
63: Gavyn Davies, chairman Fulcrum Asset Management
64: Philip Richards, chief investment officer, RAB Capital
65: Robin Hall, managing partner Cinven
66: Ian Wace, chief executive, Marshall Wace Asset Management
67: Paul Marshall, co-founder Marshall Wace Asset Management
68: Mike Platt, BlueCrest Capital Management
69: Jamie MacLeod, chief executive officer, Skandia Investment Group
70: Ian Armitage, HgCapital
71: Tim Wong, head of AHL, Man Group
72: Paul Ruddock, chief executive, Lansdowne Partners
73: Sir George Matthewson, chairman Toscafund
74: Roger Guy, Gartmore Global Investments
75: William Arah, Marathon Asset Management
76: David Gorton, London Diversified Fund Management
77:Christian Siva Jothy, SemperMacro
78:Jeremy Hermann, Ferox Capital Management
79:Charlie Porter, co-founder, Thames River Capital
80: Gay Huey-Evans, president Tribeca Global Management (Europe)
81: Nat Rothschild, co-chairman, Atticus Capital
82: Helena Morrisey, chief executive, Newton Investment Management
83: David Cummings, head of UK equities, Standard Life Investments
84: Rick Haythornthwaite, partner, Star Capital Partners
85: Simon Palley, managing partner, BC Partners
86: Baroness Hogg, chairman 3i Group
87: Jean-Pierre Millet, head of European buy-outs, Carlyle Group
88: Sanjeev Shah, manager Special Values and Special Situations, Fidelity Investments
89: Sushil Wadhwani, Wadhwani Asset Management
90: Reade Griffiths, Polygon Investment Partners
91: Michael Huttman, chief investment officer, Millennium Global Investments
92: William Jackson, managing partner, Bridgepoint Capital
93: Richard Pease, head of European equities, New Star
94: Massi Khadjenouri, chief investment officer, Cheyne special situations fund
95: Luqman Arnold, Corsair Capital
96: Paul Marson-Smith, chief executive, Gresham Private Equity
97: David Giampaolo, chief executive, Pi Capital
98: Florian Homm, Absolute Capital
99: Tom Lamb, UK managing director, Barclays Private Equity
100: Peter Webb, chief executive, Unicorn Asset
20. LOUIS BACON
51, founder and chairman, Moore Capital
Secretive American hedge fund manager who launched his
Moore Global Investments flagship fund in 1990 and has
been said to be a more powerful hedge fund manager than
He is now based in Mayfair but his previous office in St James is said to have included a
squash court of half the standard width, allowing him to practise his line shots.
Bacon hunts and fishes and is a committed devotee of Ernest Hemingway.
Last November, he bought the 171,400-acre Forbes Trinchera Ranch, the largest privately
owned ranch in Colorado, which had been owned by the Forbes publishing family for 37
19. SANJAY PATEL
Co-head of Goldman Sachs European private equity and Indian capital equity
Sanjay Patel is in his second spell at Goldman, after leaving the company to work for
alternative asset management fund GSC Partners.
He rejoined Goldman in February 2006 and was appointed alongside Hughes Lepic to run
Goldman's European private equity business after its former chairman Richard Sharp
departed in November 2006.
Patel, whose parents are from Bombay, went to Eton and Harvard before completing an MBA
at Stanford University.
18. DAVID BLITZER
37, senior managing director, Blackstone Groups
David Blitzer joined Blackstone in 1991 and set up its
London operation in 2002.
As a senior managing director alongside Joseph Baratta, he has been involved in high-profile
European buyouts of companies, including Spirit Group,
publisher Houghton Mifflin and Legoland.
17. HUGH OSMOND
45, chairman Sun Capital Partners
Whether it is pubs or "zombie" funds, Hugh Osmond is a
serial entrepreneur turned private equity player.
A former medic, he started out in restaurants, taking over
Pizza Express in 1993 with fellow entrepreneur Luke
Johnson. He later became one of Britain's biggest pub landlords after three takeovers worth
Floating Punch Taverns, where he was chairman, and selling his stake in Spirit Group
brought him £100m.
After the failure of a plan to take over the Six Continents hotels to pubs group, he bounced
back with a £1bn takeover of the closed Pearl life funds and
then broke up Resolution Group's agreed merger with
Friends Provident by successfully bidding for Resolution.
16. JON MOULTON
57, founder and managing partner Alchemy Partners
The deal Jon Moulton is still most famous for is a buyout
that he never did.
Accused of being a ruthless asset-stripper when he tried to
buy Rover's sports car brand MG in 2000, Moulton lost out to a bid by management for the
entire company but says he's still accosted at airports by former Rover workers who tell him
they wish he had bought the company.
Moulton studied chemistry at Lancaster University then trained as a chartered accountant and
joined Coopers & Lybrand before helping setting up the private equity operation at Schroders
in 1985 that became Permira.
He had a brief spell at Apax Partners but left to set up Alchemy in 1997.
One of his best deals was selling home decorating business AG Stanley for £430m a few
years after it was bought from Boots for just £2.
Married with two children he has a vineyard in Kent and
houses in London and Paris. Has become an unofficial and
outspoken spokesman for the private equity industry.
15. MARTIN HALUSA
52, chief executive, Apax Partners
Austrian Martin Halusa succeeded Apax founder Sir Ronnie
Cohen as chief executive in January 2004 and since then has
been the face of one of Britain's leading private equity firms.
A former consultant at Boston Consulting Group, he then worked for Austrian crystal group
Swarovski, joining Apax in 1990 to help found the German business that later produced some
of the group's best investments.
Born in Bangkok to a diplomat father, he has a degree from Georgetown University, an MBA
from Harvard Business School and an economics PhD in Economics from the University of
14. MARTIN HUGHES
46, founder and chief executive, Toscafund
Hughes established himself as the premier banking analyst in the City in the 1990s, before
becoming deputy chief executive of Credit Lyonnais Laing.
He also worked with hedge fund guru Julian Robertson at Tiger Management but left to set
up Toscafund as a global equity hedge fund in 1999.
Toscafund now has assets of $7bn and Hughes demanded radical changes at ABN Amro
before the Dutch bank's eventual takeover last year into play. He also backed Virgin's
unsuccessful bid for Northern Rock.
Hughes has been nicknamed the "rottweiler" but is also persuasive enough to have been able
to attract former Royal Bank of Scotland chairman Sir George Mathewson to his board as
13. MICHAEL HINTZE
54, chief executive, CQS
Michael Hintze is a former Australian army captain who has become one of Britain's leading
hedge fund executives, since founding CQS in 2000.
Hintze's grandparents fled Russia for China after the Russian revolution in 1917, while his
parents lost everything when Mao came to power in 1949.
They moved to Australia four years later, when Hintze was three months old. A fluent
Russian speaker, he started his City career as a graduate trainee fixed income trader with
Salomon Brothers, later moving to Goldman Sachs and Credit Suisse First Boston.
He holds degrees in electrical engineering, physics, pure mathematics and acoustics, as well
as an MBA from Harvard.
Hintze is a prominent supporter of the Conservative Party and a major philanthropist, funding
a £1.5m sculpture gallery at the Victoria & Albert Musuem and funded the restoration of
Michelangelo frescos in the Vatican.
12. NOAM GOTTESMAN
46, founding partner GLG Partners
One of a number of former Goldman Sachs bankers who have lit up the hedge fund world,
Gottesman left the investment bank for Lehman Brothers in 1995, setting up an in-house
The American then left Lehman in 2000 with colleagues Pierre Lagrange and Jonathan Green
(who has since left the firm) to set up GLG, named after the first initials of their surnames.
The firm is now one of the world's biggest multi-strategy hedge fund manager, operating 40
funds and managing more than $24bn.
GLG's largest fund, the Emerging Markets Fund, generated a return of more than 50pc last
year and it listed on the New York Stock Exchange in
November 2007 after reversing into a special purpose
11. PHILIP YEA
53, chief executive, 3i Group
Yea was in such demand in 2004 that he turned down the
chief executive's job at British Land to take the same title at
3i Group, where he became the first "outsider" to run the
He joined after five years in private equity with Investcorp and quickly showed his
independence by changing the co-investment rules for 3i executives – the group was
previously different from other private equity firms in that managers were not obliged to put
their money into deals.
Yea, a French and Spanish graduate of Brasenose College, Oxford, made his name in the
drinks industry where he spent 13 years with Guinness, which merged with Grand
Metropolitan while he was finance director to become Diageo.
He left for Investcorp two years later.
He is a non-executive director of Vodafone and a former
non-executive at HBOS and Manchester United.
10. NEIL WOODFORD
47, fund manager Invesco Perpetual
Probably Britain's best-regarded fund manager now that
Anthony Bolton at Fidelity has moved on to other things.
Woodford manages the Invesco Perpetual High Income
Fund, Britain's largest investment fund with more than £6bn
under management, and the Inveso Perpetual Income Fund.
After graduating in Economics and Agricultural Economics from Exeter University of Exeter
in 1981, he began his career with the Dominion Insurance
Company, moving in 1987 to become a fund manager with
Eagle Star and then switching to Invesco Perpetual in 1988.
9. JOHN DUFFIELD
68, founder and executive chairman, New Star Asset
Colourful and controversial Oxford biochemistry graduate
who wanted to prove to Sir Charles Clore he wasn't
marrying his daughter Vivien for money.
He founded Jupiter Asset Management in 1985 and built it into one of the UK's most
successful retail fund management businesses.
Within 15 years, Jupiter's funds under management grew to £14bn and the company attracted
1m investment accounts but Duffield left in 2000 after a bust-up with Commerzbank, the
German bank which had bought Jupiter, crystallising £200m for Duffield, and making more
than 150 people at the firm into millionaires.
Duffield got another 100 people into the millionaire's club after founding New Star and
floating it four years later.
He cashed in £155m of shares and dividends from New Star in March 2007.
However, in January this year, New Star issued a profits
warning and cut its dividend. Famously drives a Ford
Mondeo and does not use a computer.
8. JOHANNES HUTH
47, head of London office, Kohlberg Kravis Roberts &
KKR has a list on its website of 11 private equity records it
has broken, including that for the largest leveraged buyout in
Europe, which was claimed by its £12.4bn takeover of
Alliance Boots last year.
That and many other transactions fall under the jurisdiction of Johannes Huth, the KKR
partner responsible for its European operations.
Huth joined KKR in 1999 after working for Salomon Brothers and InvestCorp.
He raised eyebrows in 2006 when KKR listed a fund on the Euronext stock market in
Amsterdam, giving it a permanent source of capital.
A German national, he is fluent in four languages and
represents the London office on KKR's investment and
portfolio management committees.
7. STANLEY FINK
49, deputy chairman, Man Group
Regarded as the godfather of London's hedge fund
community, Stanley Fink is the unassuming son of a
Manchester lampshade-maker who became chief executive
at Man in 2000 after successfully floating the former sugar
trader while finance director.
He increased assets more than ten-fold during his tenure, making Man Group by far the
world's largest hedge fund manager.
Fink gave the financial world a scare when he underwent an operation to remove a benign
brain tumour in 2004 but regained full health and returned to work after three months before
becoming non-executive deputy chairman in March 2007.
His charitable interests include being a Trustee of ARK (Absolute Return for Kids) and
President of the Evelina Children's Hospital Appeal Committee.
He lists his main luxury as ownership of a Swiss hotel.
6. ALAN HOWARD
44, founder and director, Brevan Howard
Howard was reputed to have made $100m a year for Salomon Brothers by trading
government bonds in the early 1990s.
A former global head of proprietary trading of the fixed income division at Credit Suisse,
Howard then tapped into a network of former colleagues to help set up Brevan Howard,
launching its fixed income-focused hedge fund in April
2003 with $870m of assets and building it into one of the ten
largest hedge funds in Europe.
5. JOHN STUDZINSKI
51, senior managing director, The Blackstone Group
Renowned for his prowess as an investment banker and one
of the best City's networkers, Studzinski's stunned the City
by switching from HSBC's top investment banking job into
Born in Massachusetts and a holder of both US and UK citizenships, this 22-year veteran of
Morgan Stanley was instrumental in building HSBC's investment banking franchise.
Outside the M&A and financing work for which he is renowned, Studzinski is a founding
member and trustee of the Passage Day Centre for homeless people in Westminster.
He was made a Knight of the Order of St. Gregory by Pope
John Paul II for his humanitarian work for the homeless.
4. NIGEL DOUGHTY
50, chairman, Doughty Hanson
Newark-born Nigel Doughty completed an MBA from
Cranfield School of Management in 1984 and got together
with Richard Hanson to form private equity fund manager
Doughty Hanson & Co.
The firm has since made more than 100 investments worth more than Eu23bn and become
one of Europe's leading private equity fund managers, buying and selling companies
including Dunlop Standard Aerospace, Tag Heuer, Umbro and bakers RHM.
Doughty is the owner and chairman of Nottingham Forest football club and is giving
£250,000 a year for at least five years to Cranfield, the largest donation in the school's
history, to fund the creation of the Cranfield Centre for
Corporate Responsibility and a Doughty chair in corporate
3. GUY HANDS
48, chief executive, Terra Firma Capital
A former head of Eurobond trading at Goldman Sachs,
Hands' latest private equity deal has made him the least
likely record company boss in the industry's history.
Having splurged £3.2bn last summer on EMI, the Terra Firma boss, more used to running
pubs and motorway service stations, is on a steep learning curve.
He recently admitted that his takeover of the company had not gone to plan and had taken a
far greater emotional strain than he had expected - which is little surprise, given that he faced
opposition from artists including Robbie Williams and Radiohead, who defected ahead of
their 2007 album, In Rainbows.
Hands has a reputation as one of the City's most innovative bankers, having founded Terra
Firma in a 2002 spin-off of the principal finance group of Japanese bank Nomura
Now independent of Nomura, Terra Firma owns the biggest portfolio of private housing in
Germany as well as the Thresher chain of wine shops.
Educated at Ravenscroft School, Beckington, The Judd School, Tonbridge, and Mansfield
College, Oxford, Hands lives in Sevenoaks, Kent with his wife Julia, with whom he owns the
Hand Picked Hotels chain of 14 country house properties.
They have four children. He is a keen singer and karaoke
2. CHRISTOPHER HOHN
41, managing partner, The Children's Investment Fund
Hedge fund manager Christopher Hohn's successful
campaign against former Deutsche Börse head Werner
Seifert underlined his status as one of the City's top powers.
After defeating Seifert's plan to take over the London Stock Exchange, Hohn ousted the
German stock exchange boss.
His attempts to force a merger between Deutsche and Euronext failed but he later put Dutch
bank ABN Amro into play after amassing a small stake.
Formerly a fund manager at Perry Capital on Wall Street, Hohn has built TCI into a hedge
fund whose performance and influence belies its size, attracting investors including Lord
Hohn is also a major philanthropist, donating 0.5pc of CIF's
assets under management to a charitable foundation run by
1. DAMON BUFFINI
45, chairman, Permira
This son of an American serviceman and a Leicester hotel
worker is arguably Britain's most powerful black man,
directing one of the country's top private equity groups.
He has led the growth of the former Schroder Ventures and taken a major role in defending
private equity's record on jobs and investment.
A Cambridge law graduate, he was a management consultant before joining Schroder
Ventures, becoming a partner in 1992 and UK managing partner in 1999.
In 2000, he moved up to Permira managing partner and oversaw the separation from
Schroders in 2001.
His deal-making skills have helped Permira to buy companies ranging from the AA to
fashion group New Look and hotels chain Travelodge.
Married to Deborah, a Chinese solicitor, he lists golf as a hobby.
Works with underprivileged children in poor parts of London.