Despite billions leaving the firm, Lone Pine Capital ended strong last year.
The manager was down 38% and 42% in its hedge fund and long-only strategy, respectively, last year.
Bloomberg reported in August that clients had pulled roughly $3 billion out of the firm in the 12 months leading up to July 2023.
The firm's strong 2023 performance bested the average hedge fund, which returned less than 8%, according to Hedge Fund Research.
Still, the flagship hedge fund strategy trailed the S&P 500, fellow Tiger Cubs like Tiger Global and Coatue, and other tech investors like Whale Rock and Light Street.
Persons:
Cub, Steve Mandel, Pine, Mala Gaonkar's, Peers
Organizations:
Lone, Lone Pine Capital, Business, Bloomberg, Fund Research, Viking, D1 Capital, Tiger Cubs, Tiger, Nasdaq
Locations:
Lone Pine, Cypress, Greenwich