Sir Paul Marshall
Hedge fund
Rank 2017

The hedge fund that Marshall, 57, started with Ian Wace (qv) in 1997 now manages $26bn worldwide. The pair have engineered quite a comeback since the financial crisis of 2007-08 when their assets under management plummeted from $15bn to $4bn. The past year has been a bumper time, with profits enjoyed by Marshall Wace members in 2015-16 surging to £380.8m, up £71m from the year before. Marshall and Wace sold a 25% stake in their fund to the US private equity group KKR in 2015, bringing payments of at least £50m each to the pair, plus £93m worth of KKR shares to Marshall Wace.
   A prominent former Liberal Democrat who worked for the late leader Charles Kennedy, Marshall left the party in 2015 after his support for Brexit (he reportedly gave £100,000 to the Vote Leave campaign) put him at odds with its stance. His son is Winston Marshall of the folk rock supergroup Mumford & Sons. A founding trustee of the Ark children’s charity and chairman of its academy chain, Marshall was knighted last year for services to education and philanthropy. In 2015 he donated £30m to the London School of Economics to endow its Marshall Institute of Philanthropy and Social Entrepreneurship.