Repeating its success of 2006, it was announced today that Albourne has received the 2009 Queen’s Award for Enterprise.
“We are thrilled to receive this honour”, comments Simon Ruddick, “although we owe it entirely to the amazingly loyal support of our clients and colleagues”. Although the results for the financial year just ended are yet to be audited, revenue growth will exceed 55% and pre-tax profits will have more than doubled. “We appreciate that these have been very difficult times for many investors, although we are pleased that there is a growing awareness that hedge funds neither created nor fuelled the current financial crisis and that, in fact, they have a yet more crucial role to play within the new financial world order”, adds Ruddick.
Once a year Albourne is also pleased to be able to announce those of its employees that are due to be offered equity options as well as those that have been elevated to Partner status within the firm (although please note that Albourne Partners is a limited liability company).
The new recipients of equity options, in alphabetical order, will be:
- Gaurav Amin
- Jonathan Choslovsky
- Jeff Lisle
- Debra Ng
- John Shearman
- Claire Smith
Existing equity holders, John Claisse and Adriaan Joubert, will also be increasing their equity holdings.
The new Partners, in alphabetical order, are:
- Kate Bungey
- Clare Cotton
- Jane Hughes
- Julie LauerKelly McKale
- Stuart Warmsley
Albourne has never sold equity to raise capital and it has no debt. “We have taken this path”, explains Ruddick, “so as to have as much equity as possible with which to reward and align key staff”. There are now 20 employees with equity or equity options. Albourne has 45 Partners. Their average age is 43.62; their average hedge fund (or private equity) experience is 10.57 years and on average they have worked with Albourne for 4.8 years. “We are proud of our ability to attract and retain the industry’s top talent. We believe that our strength in depth is our most distinct comparative advantage”, Ruddick concludes.
