Australian
Australian(s) may refer to:
Australia
* Australia, a country
* Australians, citizens of the Commonwealth of Australia
** European Australians
** Anglo-Celtic Australians, Australians descended principally from British colonists
** Aboriginal A ...
hedge fund
A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as s ...
manager based in
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
. Nicknamed "The Wizard of Oz" during his time at
GLG Partners
''Man GLG'' (formerly GLG Partners) is a discretionary investment manager and a wholly owned subsidiary of British alternative investment manager Man Group plc. It is a diversified and multi-strategy fund manager that operates strategies includ ...
and
Moore Capital Management
Moore Capital Management LP (MCM) is a New York-based, global investment management firm headquartered in New York, New York.Sydney. In early 2018, Coffey's plans to launch a new fund were announced.
Early life and education
Coffey attended St. Patrick's College, Strathfield, matriculating in 1988.
Coffey graduated with a Bachelor of Economics from Macquarie University in 1995.
Career
Coffey joined
Macquarie Bank
Macquarie Group Limited () is an Australian global financial services group. Headquartered and listed in Australia (), Macquarie employs more than 17,000 staff in 33 markets, is the world's largest infrastructure asset manager and Australia's t ...
in 1993 and in 1994 traded emerging-market equity derivatives at
Bankers Trust
Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corpo ...
and
Deutsche Bank AG
Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stoc ...
. Coffey was hired by Blueborder Partners, a
George Soros
George Soros ( name written in eastern order), (born György Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. , he had a net worth of US$8.6 billion, Note that this site is updated daily. having donated mo ...
related hedge fund and was then hired by
Bank Austria
UniCredit Bank Austria AG, branded and widely referred to as Bank Austria, is an Austrian bank, 96.35% owned by Milan-based UniCredit. It was formed in 1991 by merger of Vienna's Länderbank and Zentralsparkasse, acquired Creditanstalt-Bankverei ...
to oversee global equity
proprietary trading
Proprietary trading (also known as prop trading) occurs when a trader trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments with the firm's own money (instead of using depositors' money) in order to m ...
.
Coffey was then a trader at
GLG Partners
''Man GLG'' (formerly GLG Partners) is a discretionary investment manager and a wholly owned subsidiary of British alternative investment manager Man Group plc. It is a diversified and multi-strategy fund manager that operates strategies includ ...
(GLG), and is estimated to have earned 170 million in 2007 after increasing by 51% the value of his emerging markets fund. In April 2008 he announced his departure from GLG, effective in October, and leaving behind his 200 million GLG Partners compensation package. Industry sources estimated that Coffey had been responsible for two-thirds of GLG's performance fees during his time there. In November 2008 became co-chief investment officer of Moore Europe Capital Management, a subsidiary of
Moore Capital Management
Moore Capital Management LP (MCM) is a New York-based, global investment management firm headquartered in New York, New York.billion
Billion is a word for a large number, and it has two distinct definitions:
*1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is its only current meaning in English.
* 1,000,000,000,000, i. ...
. The size of the new fund would be capped at 2 billion and offices will be headquartered in
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
.
Personal life
In November 2010 Coffey bought Ardfin Estate, a sporting estate on the island of Jura in
Scotland
Scotland (, ) is a Countries of the United Kingdom, country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, mainland Scotland has a Anglo-Scottish border, border with England to the southeast ...
. The purchase attracted controversy and concern over Coffey's decision to close the estate's public gardens, whose 2,500 visitors a year formed a significant source of income for Jura. In 2011, a spokesperson for Coffey said that his "full intention" was to re-open the gardens during 2012, but the gardens have remained closed. Coffey constructed an 18-hole private golf course on the estate. The work was completed in 2018 and the course opened in spring 2019.
Wealth rankings
Notes
* : Net worth drawn from the '' BRW'' Young Rich List