MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, February 11, 2011 Is Wellington Worth $9 Billion? Have you ever wondered how Wellington Management pays its partners or how much those partnerships (and the firm as a whole) are worth? The Boston Globe's Steven Syre reports that those details and more came to light yesterday thanks to a briefly-available (but now withdrawn and pulled from the Internet) decision from Massachusetts' Supreme Judicial Court in the high profile divorce case of Wellington hedge fund manager Nicholas Adams. Fundsters may recall American Funds' parent, Capital Group, fighting to keep its business details secret in a PM's divorce case back in 2005 (see The MFWire, 10/14/2005). Boston-based Wellington, which manages more than $600 billion and sub-advises funds for giants like the Hartford and Vanguard, tends to keep itself out of the limelight. Like Capital Group, the firm doesn't comment on stories related to itself (and a spokeswoman declined to comment for the Globe's story). The case reveals several interesting estimates: $9 billion, the value for all of Wellington; $81 million, the value of Adams' partnership stake; $46 million, the amount Adams earned in his peak compensation year, 2008; $300,000, the amount of base pay Adams earned in 2008 (the rest came from "incentive compensation"; three percent, the slice of Wellington's profits Adams earned while he was partner. The case also describes the somewhat intangible metrics on which Wellington bases incentive pay. Printed from: MFWire.com/story.asp?s=36028 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |