Tiger Management launches co-seeding fund

By Lawrence Delevingne

Mon Apr 4, 2011



The Tiger Accelerator Fund, which seeks to raise $450 million, gives outsiders the opportunity to invest alongside Julian Robertson


 
 Julian Robertson

Julian Robertson is reopening Tiger Management to outside investors for the first time in more than a decade, a move that has been anticipated since last summer. 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.

The group of funds already has more than $230 million in seeding from Robertson, and the Accelerator Fund is attempting to raise more than $450 million this summer, according to a March 2011 pitch book and people familiar with the situation.

As of January 2011, Robertson has seeded 38 managers in whose funds he typically takes a 20% to 25% initial stake. These firms now manage about $21 billion, according to the materials. A theoretical equally-weighted portfolio of Tiger seeds since 2001 would have generated a...

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