Some people at hedge fund Tudor are having a wonderful time in London. Not all
Macro hedge funds had a good 2025. – The top five performing funds in 2025 were macro funds, according to Bloomberg. One macro fund, however, had a more mixed year.
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Accounts have just been released for Tudor Capital Europe LLP, the main UK subsidiary of US hedge fund Tudor Investment Corporation. They cover the year ending 31 March.
Tudor’s London business had a good year. Revenue rose by 31%, employee count by 30%, and average pay per head by 12%. It’s the seventh consecutive year of headcount growth for the firm, at least, and the third consecutive year of growth for revenue and pay.
Tudor's 153 London employees earned an average of $416k each, up from the 118 people earning $373k on average in 2025. Back in 2019, 64 Tudor employees in London earned $256k on average.
Surprisingly, pay for the fund’s members - UK legal jargon for partners in a partnership – was down. Tudor’s portfolio managers (as most members are) enjoyed compensation of only $8.0m per head in the year ending March 2026 - down by 6% from 2025. The number of members was flat at 10 on the previous year.
Tudor’s reporting period overlaps very well with Stuart Riley’s presence at the firm. Riley was head of London rates trading for Goldman Sachs and a co-founder of macro fund Rokos Capital Management. Having joined Tudor in February 2025, he left less than a year and a half later for fellow hedge fund ARP Global Capital in Dubai.
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