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TT International reports 2025 revenue decline and widening losses

The London hedge fund group generated £32 million of revenue in 2025, down 7% year over year, and posted a £10 million loss as assets under management stayed below break-even levels.

Reported · Written up by our desk · Hedge Funds

TT International Asset Management, the London hedge fund group founded by Tim Tacchi and owned by Japan’s Sumitomo Mitsui Banking Corp, reported another year of declining revenue and rising losses, alongside lower headcount, according to a report cited by eFinancial Careers.

The firm generated £32 million (about $43 million) of revenue in 2025, a 7% decline from the prior year and its fourth straight annual fall. Revenue was also well below the £79 million reported in 2021, while TT International recorded a £10 million loss for the year, compared with a £9 million loss in 2024.

TT International said its financial deterioration was driven primarily by lower assets under management. It ended 2025 with fewer employees, with headcount down 7% during the year to 101, reversing a period of expansion over the prior four years.

Average pay was broadly stable, edging up to about £250,000 per employee from £249,000 a year earlier, though TT International noted this still represented a decline in inflation-adjusted terms. The report also said the firm’s assets under management remained below the level it views as necessary to break even.

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