Last month, private equity firm Bridgepoint became the first to list the London Stock Exchange since 1994. But a “complicated structure” stops shareholders from knowing just how much executives are paid under the “carried interest” payment scheme, says the Financial Times. UK-listed firms are required to disclose the total pay of senior managers. But carried interest payments “are not remuneration, but a return on investments that incur capital-gains tax rather than income tax”.
Bridgepoint says that the money flows through “a series of corporate entities” that it “does not control”. Bridgepoint’s executive chair, William Jackson, could have received up to £32.6m under the scheme in 2019, says the FT, but “it is impossible to tell how close to the true figure this is”. Jackson was paid £700,000 in salary and £630,000 as a bonus in 2020, while CFO Adam Jones received a £325,000 compensation and £442,500 bonus.
Kris Paterson is a writer for WhatJobs.com