Julian Robertson Is Reopening Tiger Management to Outside Investors for the First Time in a Decade
After a ten-year hiatus, Julian Robertson is finally reopening Tiger Management to outside investors, Lawrence Delevingne at AR reports.
The reopening has been rumored for months, and hit its peak when Robertson hired Tiger Management's former chief trader Gil Caffray (who was most recently with Tiger cub Touradji Capital) as chief investment officer in early January.
Prior to that, Roberston recruited former Goldman Sachs exec John Townsend as COO and managing partner.
These high-profile additions made it clear Robertson was planning something; now we know what that something is: the Tiger Accelerator Fund.
"The firm is attempting to raise money for the Tiger Accelerator Fund, a co-seeding vehicle that gives investors a piece of the fee revenue and performance at a group of six Tiger-seeded hedge funds," AR reports.
Robertson has seeded at least 38 hedge fund managers; the chosen six were picked because of a "belief in their merits and superior position for growth."
Tiger Accelerator wants to raise $450 million this summer; the three larger funds will then receive $100 million each, and the three smaller firm's will get $50 million, according to AR .
The funds are:
- Tiger Eye: Launched in 2009 by Benjamin Gambill, it has $42.5 million AUM and invests in natural resources, financials and industrials.
- Long Oar: Launched in 2009 by James Davidson, it has about $150 million AUM and invests in cyclicals and industrials
- Tiger Ratan: Launched in 2009 by Nehal Chopra, it has about $40 million AUM and is a generalist fund
- Cacabel: Launched in 2008 by Scott Sinclair, it has about $158 million AUM and invests in tech, financials, telecom and consumer goods
- Tiger Veda: Launched in 2005 by Manish Chopra, it has $213 million AUM and is a generalist fund
- Teewinot: Launched in 2003 by Michael Moriarty, it has about $31 million AUM and is generalist fund
The minimum investment is $5 million, and there's a lock-up for two years.
This story originally appeared on Business Insider
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