Michael Platt Biography
Michael Platt is a billionaire hedge fund manager from the United Kingdom. He co-founded and is the managing director of BlueCrest Capital Management, Europe’s third-largest hedge-fund firm, in 2000.
How old is Michael Platt? – Age
He is 53 years old as of 12 December 2021. He was born in 1968 in Preston, United Kingdom. His real name is Michael Edward Platt.
Michael Platt Family – Education
His father was a civil engineering professor at Manchester University. His mother worked as an administrator at a university. His grandmother, whom he describes as a “serious equity trader,” introduced him to the world of investing. He studied civil engineering at Imperial College London for a year before transferring to the London School of Economics, where he graduated in 1991.
Is Michael Platt married?
He is not married.
Michael Platt House
In London, Platt owns a large penthouse. He also owns a home in Geneva.
Michael Platt Yacht
He owns the Feadship motor yacht Arrow, which was built in 2020. What began as a ‘yacht spotter’ hobby has evolved into a rapidly expanding yachting website with thousands of unique daily visitors. SuperYachtFan in its current format was launched online in 2009, and the focus quickly shifted from ‘yacht photos’ to ‘yacht owners,’ resulting in the creation of the Super Yacht Owners Register. A database of over 1,370 yacht owners. This was an instant success because many people all over the world are fascinated by these multi-million dollar yachts and their wealthy owners.
How much is Michael Platt’s Net Worth
He has an estimated net worth of $12.5B.
Michael Platt BlueCrest Capital
In 1991, he joined JP Morgan. In April 1992, Platt took over as head of trading for JP Morgan’s swaps and options trading business, and in April 1996, he became the head of trading for all swaps products relating to the 11 founding states of the European single currency, the euro. Platt and William Reeves co-founded BlueCrest Capital Management LLP in 2000.
When Platt realized in August 2007 that “a stock market crash was imminent,” he “sold his bank shares and bought’safe’ sovereign bonds,” avoiding the worst of the financial crisis and profiting from the resulting “flight to quality” and drop in interest rates.
BlueCrest was Europe’s fourth largest hedge fund in 2014. It managed over £30 billion and employed 350 people that year. BlueCrest began by trading interest rates and employing computer algorithms to detect trends in bonds and commodities. It entered the trading equity market in 2013 to compete with Millennium Management LLC and SAC Capital Advisors LLP.
George Soros made the decision in 2011 to stop managing money for outside clients and convert his hedge-fund firm into a family office. Soros approached Platt, asking him to take on more than $1 billion in exchange for a 0.5 percent management fee and a 10% performance fee. Platt reportedly declined the offer, claiming that there were plenty of investors willing to pay the industry standard fee structure of 2-and-20.
Platt discussed the Eurozone crisis the same year, attributing it to “the cultural and political divide” between north and south.When Platt realized in August 2007 that “a stock market crash was imminent,” he “sold his bank shares and bought’safe’ sovereign bonds,” avoiding the worst of the financial crisis and profiting from the resulting “flight to quality” and drop in interest rates. In 2013, BlueCrest invested $50 million in a doomed hedge fund and sued its former manager for repayment. In 2015, the hedge fund closed its doors and paid back all of its investors, but it did not accept any new money; it became a private partnership controlled by Platt. Platt was named “the richest hedge fund manager in the City” by the Sunday Times in 2018; his net worth has since risen to $10 billion.