Two of Fairfield County’s most prominent hedge fund managers saw their 2012 earnings top $1 billion, according to a new report.
Ray Dalio, who founded Westport-based Bridgewater Associates L.P., and Steven A. Cohen, who founded SAC Capital Advisors L.P. of Stamford, earned $1.7 billion and $1.4 billion, respectively, according to Institutional Investor’s Alpha, a publication that reports on the hedge fund industry.
The two billionaires, both Greenwich residents, ranked second and third on the publication’s annual “Rich List,” which tracks the earnings of the top-grossing hedge fund managers. Also making the top 10 was Stephen Mandel Jr., founder of Greenwich-based Lone Pine Capital L.L.C., who ranked 7th with 2012 earnings of $580 million.
In all, eight of the top 10 earners manage hedge funds that are based in the tristate region.
The top-grossing hedge fund manager, according to Institutional Investor’s Alpha, was David Tepper of Appaloosa Management L.P., of Short Hills, N.J., who raked in $2.2 billion last year.
