Charity Donation
Levett started Clive in 2008 after four years at Louis Bacon’s Moore Capital Management LP. He stopped taking money from investors in 2009 after assets climbed to almost $4 billion. He didn’t respond today to a phone call and an e-mail seeking comment on remuneration and performance at the fund. Holstein, who oversees investor relations at Clive, declined to comment.
The fund paid its 11 staff $3.5 million and gave $553,000 to charity last year.
The fund’s Class A shares surged 44 percent in 2008, 17 percent in 2009 and 20 percent in 2010, according to investors. Class B shares, which started later, rose 16 percent in 2008, 16 percent in 2009 and 18 percent in 2010.
Prior to joining New York-based Moore, Levett worked at trading firm Commodity Corp. He started out in commodities in 1992 at American International Group Inc., where he traded oil.
Levett’s wealth is 250 million pounds ($382 million), unchanged from a year earlier, the Sunday Times reported last month. The U.K.’s wealthiest fund manager is Alan Howard, co- founder of Brevan Howard Asset Management LLP, whose personal fortune climbed to 1.5 billion pounds, according to the Sunday Times “Rich List.”