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May 27, 2024
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Hedge Funds

Crispin Odey took home £29m before stepping down following sex abuse claims

Crispin Odey is understood to have pocketed almost £29million at his hedge fund last year before stepping down following sexual assault claims against him.

In the final set of accounts filed on Companies House, profits at Odey Asset Management more than tripled to £63.9million for the 12 months to April 5, up from £18.8million the year before.

Profits were distributed between 11 members but not split evenly – with one member, believed to be Odey, taking home £28.6million.

Odey stepped down in June after the Financial Times said it had spoken to 13 women who alleged that they were abused or harassed by the fund manager.

The women either worked for the asset manager or dealt with him in a professional capacity.

Following the allegations it was decided in October that the fund would be wound down. 

The alleged incidents are reported to have occurred between 1998 and 2021. Odey has denied all the allegations against him.

The Financial Conduct Authority is currently investigating Odey to see if he is ‘fit and proper’ to work in financial services.

He has for years faced allegations of sexual misconduct, and in 2021 was found not guilty in a court case which accused him of indecent assault in 1998.

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The accounts also show that Odey Asset Management funds under management grew to £3.5billion by April 5 last year, up from £3billion by the same point the previous year.

The firm was launched in 1991 and became one of the more successful hedge fund managers in London.

At its peak, Odey Asset Management had £11billion assets under management.

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