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 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...
TAKE A FREE TRIAL
The full contents of this article are available to Absolute Return subscribers and trialists only.
To continue reading please, take a free trial, subscribe or log in.
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.