Pay for the 16 top partners at Brevan Howard hit £147m last year as the London-based hedge fund firm founded by Alan Howard saw a big surge in revenue, according to a report by the Financial Times.

The report cites newly-released accounts at the UK's Companies House as revealing that fee income at the firm jumped from to £428m in the year to March 2023, up from £143m for the same period a year earlier.

Howard, a regular donor to the Conservative party – including a £1m payment last year – stepped down from running the firm, which according to its website is "a leading global alternative investment management platform, specialising in global macro and digital assets", in 2020.