Latest news with #TigerCubs
Business Insider
23-07-2025
- Business
- Business Insider
A new spin-off from Tom Purcell's Alua Capital joins the Tiger Cub family tree
The former technology sector head for Tom Purcell's $3 billion hedge fund Alua Capital is planning to launch Otter Rock in the fourth quarter of this year, a person close to the firm told Business Insider. The fund's commingled vehicle is expected to raise $300 million before launch, and there's a chance the firm might take on additional capital via a separately managed account, the person said. Karlan declined to comment. The new fund will invest in stocks across different sectors, with a focus on companies undergoing technological disruption, the person said. It will be based in Stamford, the Connecticut town that is also the headquarters for Steve Cohen's Point72 and Paul Tudor Jones' long-running investment manager. So far, the firm has hired Dan Beckham as chief operating officer. Beckham, according to his LinkedIn profile, has worked in various executive roles in asset management for decades, most recently as the head of investor relations and business development at private equity firm Saturn V Capital. Karlan started as an analyst at Andreas Halvorsen's Viking Global before going to Stanford Business School. He joined Purcell's firm in 2015 and worked there until the start of 2024, when he began trading his own capital using the strategy he plans to deploy at Otter Rock. He's the latest addition to the extended Tiger Management family tree, which includes big-name managers known as Tiger Cubs, such as Tiger Global, Coatue, Lone Pine, and the aforementioned Viking, as well as funds started by former employees of these managers. Alua, for example, is run by Purcell, a former executive at Viking, and Marco Tablada, a onetime Lone Pine investor. Despite Julian Robertson, the billionaire founder of the legendary firm, passing away in 2022, his firm is still active and continues his legacy of backing external managers. The Tiger Cubs, started by former analysts of Robertson's, have spawned the next generation of stockpicking hedge funds, led by Viking in particular.
Bloomberg
03-07-2025
- Business
- Bloomberg
Tiger Cub Hedge Funds Led by Lone Pine Log Strong First-Half Gains
A pack of stock-picking firms known as Tiger Cubs — the hedge funds run by proteges of Tiger Management founder Julian Robertson — were among the industry's best performers in the first half of the year, capped by solid gains in June. Steve Mandel's Lone Pine Capital led the group with a 16% return, including a 5% bump last month, as some of its biggest holdings — Meta Platforms Inc., Intuit Inc. and Microsoft Corp. — rose by double digits during the first six months of 2025. The hedge fund at Philippe Laffont's Coatue Management notched much of its 9% year-to-date gain last month alone after recovering from a 2% loss in March.
Yahoo
22-06-2025
- Business
- Yahoo
Billionaire Investor Philippe Laffont Just Gave Bitcoin Investors Great News
Philippe Laffont worked at Julian Robertson's Tiger Management and has made many successful early tech investments. While not backed by physical assets, Bitcoin runs on the blockchain, which is considered a significant technological disruption. Laffont sees progress in Bitcoin for several reasons including the fact that it is now less volatile than it once was. 10 stocks we like better than Bitcoin › Philippe Laffont is part of an elite group of investors called Tiger Cubs. Tiger Cubs worked for Julian Robertson's hedge fund, Tiger Management, in the 1990s and then went on to found their own hedge funds. Laffont launched Coatue Management in the 1990s and heavily invests in the tech and artificial intelligence (AI) sectors. The multibillionaire was an early investor in Snap, Spotify, and TikTok parent company ByteDance. Needless to say, Laffont and his team are extremely skilled at evaluating companies in the tech industry. Recently, Laffont gave investors in Bitcoin (CRYPTO: BTC), the world's largest cryptocurrency, reason to cheer. Here's why. Bitcoin is only about 16 years old, so investors are still learning a lot about the digital asset and the world's largest cryptocurrency. For many years, Bitcoin and the broader crypto market had been viewed as the Wild West and many investors ignored Bitcoin due to the token's big price swings and also because it doesn't generate earnings, free cash flow, or return capital to shareholders. However, Laffont said at a recent crypto conference that he thinks Bitcoin's volatility has begun to decrease. "It's intriguing to me that maybe ... the cost of getting into Bitcoin is shrinking," Laffont said at Coinbase Global's State of Crypto Summit, according to CNBC. "If the beta shrinks, that would be very interesting." Beta looks at the relative volatility of an asset compared to the broader market. So if the beta of the broader market is 1 and an asset has a 1.5 beta, one can expect that asset to outperform the market in good times and underperform the market in bad times. Investors typically are looking to generate the most alpha with the smallest amount of beta possible because that leads to strong returns with less risk and therefore more protection in a downside scenario. Laffont attributes Bitcoin's declining volatility partly to more institutional investors buying Bitcoin. Interestingly, Bitcoin only fell about 5% between April 2 and April 10, when the market got crushed after President Donald Trump announced sweeping tariffs on the country's largest trading partners. Meanwhile, the Nasdaq Composite fell 6%. Laffont has said he deeply regrets not investing more in Bitcoin. He also acknowledged that he overlooked the simple concept that if a critical mass of people view Bitcoin as valuable, it is only likely to grow in value. With Bitcoin becoming less volatile, Laffont believes Bitcoin can become "more central" to the average portfolio. That could be a tailwind for Bitcoin because it only has a $2 trillion market cap, a fraction of the world's $500 trillion of net worth. One reason more investors may buy Bitcoin is because it's increasingly being viewed as a hedge against inflation due to its supply cap of 21 million tokens. Some investors also view it as a form of digital gold. The market has driven up the price of gold in recent years due to geopolitical uncertainty and concerns about the U.S. government's finances, which includes a more than $1.8 trillion fiscal deficit in 2024, and total debt that's now north of $36 trillion. Laffont isn't the only one who thinks Bitcoin can be bought by more general investors. BlackRock, the largest asset manager in the world, put out a report last year, saying it thinks investors can allocate as much as 2% of their portfolios to Bitcoin. I would agree that investors managing a general retirement portfolio can now allocate a small portion of capital to Bitcoin. With the broader benchmark S&P 500 now more heavily concentrated in a handful of dominant companies, it's harder for investors to diversify, making it more important they get some exposure to unique assets like gold, Bitcoin, and potentially oil and gas. If Bitcoin becomes even a small part of the traditional portfolio, then the price of the world's most valuable token is likely going to be less volatile and move higher over time. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor's total average return is 994% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Bram Berkowitz has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin and Spotify Technology. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy. Billionaire Investor Philippe Laffont Just Gave Bitcoin Investors Great News was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
30-05-2025
- Business
- Business Insider
Tiger Global explains its comeback after its 56% loss in 2022 — and why it sees itself in Rory McIlroy
As Tiger Global nears its 25th anniversary, the New York-based stockpicker is ready to move on from its recent past and return to its roots. The $50 billion manager, founded and run by billionaire Chase Coleman, posted back-to-back annual losses in 2021 and 2022, with the latter being a 56% swoon that brought about "enhanced risk management processes," the firm's investment team told investors in an April letter seen by Business Insider. The results since then: A two-year resurgence for one of the original Tiger Cubs, with gains of 28.5% and 24% in 2023 and 2024, respectively. The letter notes the firm was up 2.5% in its hedge fund in 2025's volatile first quarter. "Regular reviews of market and macro variables," including stress tests of each holding, have helped the firm get back on track and lets the investment team be "intently focused on playing our game — relying on the fundamental research process we have refined over decades, visualizing a wide range of outcomes, and prioritizing resilience across the companies we own," the letter states. The letter notes that the investment team has "stepped up the cadence of internal communication" and become "avid users" of OpenAI's Deep Research agent. Tiger Global is an investor in the AI pioneer. The firm compared its response to its poor stretch to the perseverance of pro golfer Rory McIlroy, the winner of this year's Masters tournament. McIlroy nearly blew a big lead before rallying to win in a do-or-die scenario after a lighthearted pep talk from his caddy. "Like Rory, we expect to make some double bogeys as investors," Tiger's team said, acknowledging that missteps and losses are part of the game. "But by relying on our research process and approaching every day with resilience and a prepared mind, we know we will make many more birdies and eagles over time and hopefully win some more championships along the way." With a "battle-tested" investment approach, the firm told LPs its process can handle the choppiness brought on by tariffs and other geopolitical tremors. "In markets like these, with high volatility and rapidly changing underlying fundamentals, we need to widen our bands on company performance and expect to be wrong on individual ideas from time to time," the letter states. For now, the investment team said that it is "head-down" on executing its process. "We know that doing the deep research to build the conviction to defend positions when they move against us is of paramount importance, so that we maximize returns from being right over the long run."
CNBC
15-05-2025
- Business
- CNBC
Tiger Cub hedge fund Coatue unveils a big stake in popular AI startup IPO
Philippe Laffont's Coatue Management took a sizable stake in Nvidia-backed artificial intelligence infrastructure provider CoreWeave amid the first's highly anticipated March initial public offering. The hedge fund unveiled a $534 million holding in CoreWeave, which in late March had the biggest venture-backed tech IPO for a U.S. company since 2021. On Wednesday, the AI firm reported better-than-expected revenue in the company's first earnings release since going public. CoreWeave also called for faster growth than expected for this year. Laffont, one of the so-called Tiger Cubs who previously worked under the late Julian Robertson at Tiger Management, owned a slew of stocks tied to the AI boom that's been driving the stock market over the past year. Coatue's top holdings included some of the so-called Magnificent Seven stocks such as Meta Platforms , Amazon, Microsoft and Nvidia, while the hedge fund also had a significant stake in Taiwan Semiconductor. Also during the first quarter, the hedge fund built smaller stakes in Carvana , Skyworks Solutions , Pinterest , Tempus AI and Astera Labs .
