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Soros Fund Management is a privately held American investment management firm.It is currently structured as a family office, but formerly was a hedge fund.The firm was founded in 1970 by George Soros [1] and, in 2010, was reported to be one of the most profitable firms in the hedge fund industry, [2] averaging a 20% annual rate of return over four decades.
In 1987, the funds lost $800 million on Japanese stocks shortly before the October 19, 1987 stock market crash. [1] In 1992, on what became known as Black Wednesday, Soros' lead fund, Quantum Fund, became famous for profiting from the devaluation of the pound when the currency left the Exchange Rate Mechanism.
TowerBrook spun out of Soros Fund Management in 2005 [5] and became known for acquiring majority stakes in companies such as Jimmy Choo. [6] Managing $13.7 billion in a number of private equity funds and structured opportunities funds, [7] TowerBrook listed 30 active investments on its website as of 2020.
George Soros, billionaire and founder of Soros Fund Management LLC, speaks during an event on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, May 24, 2022.
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Profits from this fund provided the seed money for Soros Fund Management, his second hedge fund, in 1970. Double Eagle was renamed Quantum Fund and was the principal firm Soros advised. At its founding, Quantum Fund had $12 million in assets under management, and as of 2011 it had $25 billion, the majority of Soros's overall net worth. [18]
Philanthropist billionaire George Soros confirmed that he is handing control of his $25 billion empire to his son Alex.. Soros, 92, has a net worth of $6.7 billion, according to Forbes, and is one ...