Martin Taylor (investor)
Martin Taylor | |
|---|---|
| Born | 1969/70 London, England |
| Occupation(s) | Financier, hedge fund operator |
| Known for | Managing Nevsky Fund; major donor to the Labour Party |
Martin Taylor (born 1969/70) is a British financier and hedge fund operator recognized for managing multiple billion-dollar investment vehicles targeting emerging markets. He is also a significant financial supporter of the Labour Party.
Investment career
Taylor was born in London to a family with political and educational ties; his father served as a Labour Party councillor, while his mother was the headteacher of a comprehensive school in London. He pursued history at King's College, Cambridge before qualifying as a chartered accountant after gaining experience as an auditor at Coopers & Lybrand. Exposure to highly compensated traders during audits of investment banks inspired him to transition into investing in 1994, starting at Barings LLC, where he oversaw funds focused on Eastern Europe and Emerging Europe Trusts. A notable decision came in 1997 when he divested from Russian equities ahead of the 1998 financial crisis, effectively anticipating the market collapse.
In 2000, Taylor became part of Thames River Capital LLP, where he co-managed the recently established Nevsky Fund. The fund concentrated on exploiting pricing inefficiencies and was later managed under Taylor’s own enterprise, Nevsky Capital LLP, beginning in 2007. From 2000 to 2015, the Nevsky Fund achieved an average annual net return in USD terms of 18.4%, outperforming typical emerging market funds by more than twofold. Initially, investments targeted companies within the former Soviet Bloc that were positioned to benefit from economic reforms, including Russian telecommunications firms such as Vimpelcom and energy companies like Gazprom and Lukoil. After 2002, the fund broadened its scope to encompass all emerging markets, including regions in Asia and Latin America, and by 2005 extended its reach into developed markets such as the US and Europe. The fund expanded from a $20 million Cayman Islands entity to an $800 million Dublin-based structure.
In 2010, Taylor and his partner Nick Barnes decided to close the long-only $3.3 billion Nevsky Global Emerging Markets and Asian funds due to unsustainable workload demands but continued operating the core Nevsky Fund. Taylor’s professional journey was featured in Jack D. Schwager’s 2012 publication Hedge Fund Market Wizards. He ultimately shuttered the $1.5 billion Nevsky Fund at the end of 2015, citing difficult market environments that impeded replicating previous returns, and returned capital to investors. In 2019, Taylor recommenced investment management with a $1.6 billion fund under the umbrella of Crake Asset Management LLP.
Political donor
Taylor attracted public scrutiny beyond his financial career in 2015 when investigations by the Bureau of Investigative Journalism revealed him as a major contributor to the Labour Party. His common name had previously concealed his identity. His initial donation occurred in October 2012, followed by a meeting with leader Ed Miliband in July 2013. Over three years, he donated close to £600,000 to Labour. Observers highlighted the contradiction of Miliband criticizing the Conservative Party for receiving hedge fund support while accepting substantial donations from Taylor. In response published in The Independent, Taylor confirmed his UK residency, adherence to tax obligations, and endorsement of increased taxes on wealthy individuals, including advocating for a mansion tax. After Jeremy Corbyn assumed party leadership in 2015, Taylor scaled back his contributions and backed MP Dan Jarvis during a leadership challenge in 2016. He was also a principal donor to Keir Starmer’s victorious campaign for the 2020 Labour leadership election, providing £95,000 in funding.