Launches & Closures

TPG puts $100M into debut hedge fund


Ex-Conatus partner Alex Gleser fills out team with BlueMountain, Goldman pros.

  TPG co-founder Jim Coulter 
  TPG co-founder Jim Coulter
(Photo: Bloomberg)
Private equity firm TPG has backed its first directly-managed hedge fund with about $100 million as it prepares to start trading this quarter, according to two people with direct knowledge of the plans.

The fund, TPG Public Equity Partners, is managed by Alex Gleser, who was until February a partner and senior analyst at David Stemerman's $2.3 billion Conatus Capital Management. The global long/short equity strategy is based in San Francisco and will begin trading as soon as this summer with TPG's money then