Portfolio managers at Regal Partners are preparing for a major payout after soaring funds under management and strong performance pushed fees for the hedge fund group to record highs.

The firm, founded by prominent stockpicker Phil King two decades ago, said it expects to earn around $55.5 million in performance fees in the six months to June 30. That compares to $7 million in the same half last year and more than double the payout across the entirety of 2023.