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Rating:Is Wellington Worth $9 Billion? Not Rated 1.0 Email Routing List Email & Route  Print Print
Friday, February 11, 2011

Is Wellington Worth $9 Billion?

News summary by MFWire's editors

Have you ever wondered how Wellington Management pays its partners or how much those partnerships (and the firm as a whole) are worth? The Boston Globe's Steven Syre reports that those details and more came to light yesterday thanks to a briefly-available (but now withdrawn and pulled from the Internet) decision from Massachusetts' Supreme Judicial Court in the high profile divorce case of Wellington hedge fund manager Nicholas Adams.

Fundsters may recall American Funds' parent, Capital Group, fighting to keep its business details secret in a PM's divorce case back in 2005 (see The MFWire, 10/14/2005).

Boston-based Wellington, which manages more than $600 billion and sub-advises funds for giants like the Hartford and Vanguard, tends to keep itself out of the limelight. Like Capital Group, the firm doesn't comment on stories related to itself (and a spokeswoman declined to comment for the Globe's story).

The case reveals several interesting estimates: $9 billion, the value for all of Wellington; $81 million, the value of Adams' partnership stake; $46 million, the amount Adams earned in his peak compensation year, 2008; $300,000, the amount of base pay Adams earned in 2008 (the rest came from "incentive compensation"; three percent, the slice of Wellington's profits Adams earned while he was partner. The case also describes the somewhat intangible metrics on which Wellington bases incentive pay. 

Edited by: Neil Anderson, Managing Editor


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