Early Life
Michael Edward Platt was born in Preston, Lancashire, England, on March 18, 1968. His father was a civil engineering professor, and his mother was a university administrator. Platt's interest in finance was sparked early on, thanks to his grandmother, who was an active equity trader. At the age of 14, he began investing, using a gift from his grandmother. He studied mathematics and economics at the London School of Economics, graduating in 1991.
Rise to Success
Platt's career began in 1991 at JP Morgan, where he quickly rose through the ranks. He became responsible for developing the bank's swaps and options trading business. In 1996, he was appointed head of trading for all swaps products related to the European single currency. In 2000, Platt co-founded BlueCrest Capital Management with William Reeves. The firm initially focused on interest rates trading, utilizing computer algorithms. BlueCrest grew to become one of the largest hedge funds globally, managing over $35 billion in assets at its peak.
Key Business Strategies
Platt is known for his unique investment strategy, combining systematic, algorithm-based strategies with discretionary, human-driven trades. In 2015, Platt made a significant strategic move, returning all external investor capital to transform BlueCrest into a private partnership, managing only internal money and the wealth of its partners. This move allowed for more aggressive investment strategies and higher returns. BlueCrest has since seen significant gains, with returns as high as 153% in 2022 and 95% in 2020.
Philanthropy
Michael Platt is involved in philanthropic activities, though details are not widely publicized. He supports various charitable causes and has an interest in art. Platt's philanthropic efforts include his involvement with Michael's Desserts, a baking business with a "buy one, give one" model that donates to those in need.
