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BlueCrest Distributed 537.9 Million Pounds to Partners in 2010

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Sept. 15 (Bloomberg) -- BlueCrest Capital Management LLP, the $27 billion hedge fund founded by Michael Platt, distributed 537.9 million pounds ($851.1 million) of profits to its partners last year, according to a U.K. Companies House filing.

BlueCrest made the earnings during a 13-month period ending in December 2010, according to the filing. The hedge fund earned 448.7 million pounds in the period from Aug. 11, 2008, through November 2009, the filing said.

The six partners named in the filing include Platt, 43, three BlueCrest units and company executives. The firm’s hedge funds include the BlueTrend Fund, a computer-driven trading strategy that gained 16 percent in 2010, and the BlueCrest Capital International Fund, which rose about 12 percent last year. Management and performance fees from BlueCrest’s hedge funds totaled 874.3 million pounds last year, according to the filing.

Platt moved to Geneva last year after European Union policy makers moved to toughen rules for hedge funds and the U.K. imposed higher taxes on its wealthiest citizens.

To contact the reporter on this story: Jesse Westbrook in London at jwestbrook1@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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