Tiger accelerator fund pounces back after early losses
February 28, 2013
No sequel planned.
||Julian Robertson (Photo: Alpha)|
Tiger Accelerator, the seeding fund launched by Julian Robertson in 2011, started with a fizzle, losing 1.88% in its first 18 months, but strong gains in the first six weeks of this year have brought the fund back into the black.
Tiger Management reopened to outside capital after more than a decade in 2011, quickly raising $450 million from investors who wanted to join Robertson in seeding a group of up-and-coming managers.
Investors were eager to lock their money up for two years in exchange for a cut of the fees--a blended rate of 8% of general partner revenue--earned by the six long/short equity funds working out of Tiger headquarters at 101 Park Avenue in New York.
"Tiger Management is one of the most prominent investment management firms in the hedge fund industry,...
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