Greg Coffey Explained

Greg Coffey
Birth Date:1971 4, df=yes
Birth Place:Sydney, Australia
Alma Mater:Macquarie University
Occupation:Hedge fund manager
Spouse:Ania Brzezinski

Greg Coffey is an Australian hedge fund manager based in London. Nicknamed "The Wizard of Oz" during his time at GLG Partners and Moore Capital Management, in 2012 he declared retirement at the age of 41 and returned to Sydney.[1] In early 2018, Coffey's plans to launch a new fund were announced.[2]

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.[3]

Career

Coffey joined Macquarie Bank in 1993 and in 1994 traded emerging-market equity derivatives at Bankers Trust and Deutsche Bank AG.[4] Coffey was hired by Blueborder Partners, a George Soros related hedge fund and was then hired by Bank Austria to oversee global equity proprietary trading.

Coffey was then a trader at GLG Partners (GLG), and is estimated to have earned 170 million in 2007 after increasing by 51% the value of his emerging markets fund.[5] 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.[6] [7] In November 2008 became co-chief investment officer of Moore Europe Capital Management, a subsidiary of Moore Capital Management.[8] [9] [10] [11] In October 2012, at the age of 41, he announced his retirement.[12] [13]

In December 2017, it was rumoured that Coffey would launch a new hedge fund.[14] In February 2018, Kirkoswald Capital Partners[15] was reported to have commitments from investors of 3.5 billion. The size of the new fund would be capped at 2 billion and offices will be headquartered in London.

Personal life

Coffey is married to Ania Brzezinski, and they reside in the Sydney suburb of . They also own a ski chalet in Switzerland, a house in London's Chelsea,[16] and, in 2022, acquired a 45adj=onNaNadj=on estate in Southampton, New York for 105 million;[17] previously owned by Anne McDonnell, the first wife of Henry Ford II.[18]

In November 2010, Coffey bought Ardfin Estate, a 12000order=flipNaNorder=flip sporting estate on the island of Jura in Scotland.[19] 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.[20] 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.[21] Coffey constructed an 18-hole private golf course on the estate. The work was completed in 2018 and the course opened in spring 2019.[22] [23]

Net worth

In 2013, Coffey was listed on the Sunday Times Rich List with an assessed net worth of 260 million.[24], the Financial Review assessed Coffey's net worth as 989 million on the 2023 Rich List.

YearFinancial Review
Rich List		Forbes
Australia's 50 Richest
RankNet worth (A$)Rank
2008[25] $300 million
2009
2010[26] $335 million
2011
2012[27] $665 million
2013
2014
2015
2016
2017[28] [29] $482 million
2018[30] $486 million
2019[31] $491 million
2020[32] $655 million
2021[33] $668 million
2022$862 million
2023[34] $989 million
Legend
Icon Description
Has not changed from the previous year
Has increased from the previous year
Has decreased from the previous year

Notes

Notes and References

  1. News: The $665 million man: 41-year-old 'Wizard of Oz' returning to Sydney with a fortune . The Sydney Morning Herald. 19 October 2012. 5 February 2018.
  2. News: 'Wizard of Oz' plans return with $2bn hedge fund . Financial Times. 5 February 2018 . Johnson. Miles. Thompson. Jennifer. 5 February 2018.
  3. Web site: Macquarie University Alumni Web Community - Business. Macquarie University. 11 February 2019.
  4. News: The Times . London . Greg Coffey wizard of Oz . Kate . Walsh . 27 April 2008 .
  5. News: Andrew Baker: Soft seller defends the 'spivs and speculators' . . Simon . Bowers . 3 October 2008 . London.
  6. News: Greg Coffey to step down from UK hedge fund GLG Partners in October . . 22 April 2008 . James . Molony.
  7. News: GLG Partners posts 64pc less as star Greg Coffey eyes London . Jonathan . Sibun . 6 August 2008 . The Telegraph.
  8. News: Star hedge fund manager Coffey joins Moore Capital . Reuters . 3 November 2008.
  9. News: A Bright Spot in Tough Times . The New York Times . 4 November 2008 . 4 May 2010.
  10. Web site: Coffey hedges to join Bacon. Financial Times.
  11. Web site: Greg Coffey hires spin doctors to handle PR.
  12. Web site: Trading places: walking away from the game. 23 October 2012. Evening Standard.
  13. News: Youngest billionaire Nathan Tinkler leads the charge on the BRW rich list. Business Review Weekly. Sydney, Australia . 22 September 2011. 22 September 2011.
  14. News: Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback. The Australian Financial Review. 5 February 2018. Levy. Rachel. Turner. Matt. 5 February 2018. subscription.
  15. Web site: GREGORY JOHN COFFEY owns 75% or more and is the SOLE MEMBER/CIO of KIRKOSWALD ASSET MANAGEMENT LLC. investingreview.org. 2019-12-11.
  16. News: Sexton, Jennifer . Greg Coffey's $8m mansion plans cause a stir with Mosman neighbours . The Sunday Telegraph . Australia . 30 November 2013 . 13 August 2023 . adelaidenow.com.au .
  17. News: Clarke, Katherine . Hedge-Fund Manager Greg Coffey Is the Buyer of a $105 Million Hamptons Estate . . 14 March 2022 . 13 August 2023 . subscription .
  18. News: Hedge funder revealed as buyer of $105M Ford estate . The Real Deal . 14 March 2022 . 13 August 2023 .
  19. News: Aussie stars shine in funds revival . Peter . Wilson . 16 April 2011 . The Australian.
  20. News: Everything in Jura's garden far from rosy . Edinburgh . The Scotsman . Emma . Cowing . 15 May 2011.
  21. Web site: Will Jura now see more of the Wizard of Oz? . For Argyll . October 2012 . 8 April 2015 . https://web.archive.org/web/20150408193046/http://forargyll.com/2012/10/will-jura-now-see-more-of-the-wizard-of-oz/ . dead .
  22. Web site: Spring unveiling planned for world-class golf course on Jura . The Scotsman . 3 January 2020 .
  23. Web site: Ardfin . Top 100 Golf Courses . 3 January 2020 .
  24. Web site: Daniels, Vic . SUNDAY TIMES RICHEST 25 BRITISH HEDGE FUND MANAGERS . . 19 April 2013 . 11 November 2020 .
  25. News: BRW Young Rich list: Nathan Tinkler, Hilton Nathanson, Greg Coffey . Carswell, Andrew . Daily Telegraph . Australia . 2 November 2020 . 11 November 2020 .
  26. News: The Mayne Report Rich List . Mayne, Stephen . Stephen Mayne . The Mayne Report . 2 November 2020 . 11 November 2020 .
  27. News: The $665 million man: 41-year-old 'Wizard of Oz' returning to Sydney with a fortune . . 19 October 2012 . 11 November 2020 .
  28. News: Financial Review Rich List 2017 . Stensholt, John . . 25 May 2017 . 8 June 2017 .
  29. News: Mayne's take: The top 25 Australian billionaires, as claimed by Fairfax . Mayne, Stephen . Stephen Mayne . . Private Media . 26 May 2017 . 10 October 2019 .
  30. Web site: 2018 AFR Rich List: Who are Australia's richest people?. The Australian Financial Review. 25 May 2018. Stensholt, John. 26 May 2018.
  31. Web site: Australia's 200 richest people revealed. The Australian Financial Review. Nine Publishing. 30 May 2019. Bailey. Michael. 31 May 2019.
  32. Web site: The full list: Australia's wealthiest 200 revealed. subscription. The Australian Financial Review. Nine Publishing. 30 October 2020. Bailey, Michael. Sprague, Julie-anne. 31 October 2020.
  33. News: Bailey, Michael . Sprague, Julie-anne . The 200 richest people in Australia revealed . . 27 May 2021 . 28 May 2021.
  34. News: Bailey, Michael . Sprague, Julie-anne . The 200 richest people in Australia revealed . . 26 May 2023 . 6 June 2023.

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