Hedge Funds

Lone Pine offers emerging-market long-only fund


Lone Pine Capital is branching into long-only territory for the second time, in this case to offer a $1.5 billion fund that will focus on emerging markets.

Founder Steve Mandel and his team of portfolio managers will run Lone Dragon Pine, which is set to launch in April. While the extreme volatility that has recently seized emerging markets could make the timing less than ideal, investors expect that Lone Pine's reputation, as well as investor enthusiasm for emerging markets, could spell oversubscriptions for the offering.

Steve Mandel

Lone Pine has been investing in emerging markets since