TPG-Axon offshoot Soroban speeds to $1.1 billion

By Lawrence Delevingne

Wed Apr 6, 2011

Assets have streamed in since November thanks to pedigree and performance.

Soroban Capital Partners, the long/short equity firm run by former executives of TPG-Axon Capital, is managing more than $1 billion less than six months after launching.

The firm began trading on November 1 with $130 million, reached $500 million in February, and hit $800 million by March 1. As of April 1, the firm was managing $1.1 billion.

Soroban's fundraising success is unusual amid a still difficult environment for new funds. The 59 new American hedge funds that started in 2010 and ended the...


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