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Louis Bacon

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Louis Moore Bacon
Born1956
Raleigh, North Carolina
Alma materMiddlebury College
Columbia Business School
OccupationHedge funds
Years activeSince 1989
EmployerMoore Capital Management

Louis Moore Bacon (born 1956) is an American hedge fund manager and trader who founded and manages Moore Capital Management, a leading New York City-based hedge fund. Bacon has been at the top 20 ranking of Top 100 money earners since the 1990s.[1] He is considered one of the top 100 traders of the 20th century. With an estimated current net worth of around $1.7 billion, he is ranked by Forbes as the 707th richest person in the world.[2] Bacon is known for his use of a global macro strategy to invest in the markets.

Bacon's firm, Moore Capital, is widely considered one of the top hedge funds in the world and is highly respected on Wall Street. Many star bankers, most notably Greg Coffey, have opted to join Bacon at Moore as opposed to launching their own firms.

Background

Bacon was born in Raleigh, North Carolina. Bacon graduated from Episcopal High School in Alexandria, Virginia. He later attended Middlebury College where he studied literature[2] and graduated Cum laude. He subsequently received his MBA degree from Columbia Business School.[3]

Career

Bacon started as a trader and broker of financial futures for Shearson Lehman Brothers [4] in New York. In 1989 he founded Moore Capital Management, a leading hedge fund with $15 billion in assets under management. Moore Capital is headquartered in New York City but has other offices in London and Washington D.C.

Bacon is a discretionary trader. He trades a Global Macro Strategy and is one of the few successful discretionary stars along with Paul Tudor Jones.[citation needed]

In May of 2010, Moore Capital Management had its worse month ever with losses of 9.2% London Evening Standard.[5]

Personal life

Bacon was once married to Cynthia Pigott,[3] a former staffer at Newsweek magazine, but they later divorced. His second wife is Gabrielle Sacconaghi. Bacon's stepmother is Blanche Robertson Bacon, sister of Julian Robertson, founder of Tiger Management and one of the pioneers of the hedge fund industry.

Bacon owns many homes around the world. They include residences in The Boltons, Colorado and the Bahamas, a luxurious townhouse in Upper East Side a Long Island estate (which includes a hunting lodge on nearby Robins Island, all of which is owned by Bacon), a grouse moorland in Scotland and three private polo grounds.[6]

Bacon is an avid supporter of non-profit environmental protection organizations, including The Riverkeeper (which protects the ecological integrity of the Hudson River) and Group for the East End (which protects and restores the environment of eastern Long Island).

In November 2007, Bacon purchased the largest privately owned ranch in Colorado, the Trinchera Ranch in Costilla County from the Forbes family. The 171,400-acre (694 km2) property sold for $175 million, and is believed to be the highest ever for a piece of U.S. real estate, surpassing the previous record of $165 million paid for a Beverly Hills mansion once owned by William Randolph Hearst.[7]

In May of 2010, He purchased the Orton Plantation. The plantation had been owned by James Laurence Sprunt and his descendants for the last 126 years. Louis Moore Bacon is a descendant of the original owner, Roger Moore.[8]

In May 2010, Bacon's House Manager, Dan Tuckfield, was found dead in the hot tub of Bacons Bahamas Lyford Cay estate. The case will likely end up before the Coroner's Court, according to Assistant Commissioner Glenn Miller. Despite the fact that the results of the autopsy didn't suggest any foul play, the case is going to get a second look. [[[ http://www.thenassauguardian.com/coroners-inquest-in-lyford-cay-death%7C Nassau Guardian ]]Man's Body Found Naked In Louis Moore Bacon's Hot Tub Business Insider</ref>

In August 2010, Bacon was sued by Lyford Cay neighbor, after an on going dispute, that led to Bacons Lyford Cay property being searched and military grade speakers being removed. In the Supreme Court action filed by neighbor, against Bacon, a list of over 11 claims are outlined related to a right of passage through his Lyford Cay property. Neighbor Peter Nygard, was assigned two rights of way by easement across the property of Mr Bacon when it was conveyed in 1984. { Nassau Tribune }

References

  1. ^ Peltz, Lois (2001). The New Investment Superstars. pages Intro, 5-6, 8, 9, 146: Wiley. ISBN 0-471-40313-X.{{cite book}}: CS1 maint: location (link)
  2. ^ a b "Louis Moore Bacon". Forbes 400. Forbes magazine. March 2006. Retrieved 2006-08-10.
  3. ^ a b "Cynthia Pigott married to Louis Bacon". The New York Times. 1986-02-16. Retrieved 2006-08-10.
  4. ^ CYNTHIA PIGOTT MARRIED TO LOUIS BACON
  5. ^ City Spy: Guardian directors get 30% salary hike at London Evening Standard
  6. ^ "So rich you just want to slap them". Femail. Daily Mail. November 17, 2006. Retrieved 2006-11-26.
  7. ^ Conservationist buys state's biggest ranch
  8. ^ WHQR: Orton Plantation Sold to Bilionaire

Further reading

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