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☆ Alums of $16 billion Tiger Cub Lone Pine have struggled to hack it on their own — with one notable exception
▼ + stars: | 2024-10-10 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +7 min

In the past five years, four other alums have either shuttered or stopped trading hedge fund strategies. It's the latest spinoff from long-running Tiger Cub Lone Pine Capital to shutter. Lone Pine, the $16 billion firm led by co-chief investment officers Kelly Granat and David Craver, was founded in 1997 by billionaire Steve Mandel. Inside the Lone Pine family treeGaonkar's experience is far from the norm for Lone Pine alums though. Firms like Lone Pine, Tiger Global, Coatue, Viking Global, Maverick, Light Street, and others have lasted for decades and minted billionaires along the way.

Persons: Scott Coulter's, Mala Gaonkar, —, Coulter, Cowbird, Pine, Kelly Granat, David Craver, Steve Mandel, Mandel, Julian Robertson's, Lone, Coatue, redemptions, Gaonkar, David Byrne, SurgoCap, Abobe, David Stemerman's, Scott Phillips, Matt Iorio's, Li Ran's, Brian Eizenstat's, Paul Eisenstein's, Nikhil Trikha, Arthur Wit, that's, Andreas Halvorsen's, Dan Sundheim's, Ben Jacobs, Ning Jin, Marco Tablada, Robertson, Tom Purcell Organizations: Service, Business, Lone Pine, Julian Robertson's Tiger Management, Cubs, Roberston's Tiger Management, Tiger, CNBC, Nvidia, GE, Figma, Pine, Latimer, Elm, Sky Capital, CenterBook Partners, Ampersand Capital Group, Global, Fund Research, Tiger Cub, Tiger Management, Viking Global, Viking Locations: Lone, Lone Pine, Granat, Texas, Li Ran's London, California, Viking

☆ Crossover Hedge Funds Lost Big in 2022. They’re Still Launching in 2023.
▼ + stars: | 2023-01-15 | by ( Juliet Chung | ) www.wsj.com time to read: 1 min

Hedge funds investing in fast-growing public and private companies lost tens of billions of clients’ money last year. That isn’t stopping more “crossover” funds from launching. Mala Gaonkar, 53 years old, a former co-investment chief of Lone Pine Capital LLC, launched her New York-based crossover fund, SurgoCap Partners, on Jan. 3 with $1.8 billion, people familiar with her firm said. Ms. Gaonkar’s launch was widely anticipated given her experience and marks the largest-ever startup from a female hedge-fund manager. Lone Pine, which Ms. Gaonkar left roughly a year ago, lost 36% in 2022 in its flagship hedge fund.

☆ A PE firm that's built its brand on high-profile sports deals is broadening its scope
▼ + stars: | 2023-01-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But one firm that's already well established in the space is looking to quietly diversify itself beyond the pitch. With seemingly everyone interested in sports these days, Cardinale is smart to want to hedge his firm. The crypto exchange also agreed to pay $50 million to improve how it vets customers and transactions. Mala Gaonkar's hedge fund just made its long-awaited debut. SurgoCap Partners entered the fray this week with $1.8 billion in capital, making it the biggest launch of a women-led hedge fund, Bloomberg reports.

☆ Only 5 billionaires including the founders of Zynga, FTX and 23andme have signed up to The Giving Pledge this year
▼ + stars: | 2022-10-23 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Only five have signed up for The Giving Pledge in 2022, down from 14 last year. The Giving Pledge was founded by Bill Gates, Melinda French Gates and Warren Buffett in 2010 when dozens of America's wealthiest people pledged to donate the bulk of their fortune to help solve problems in society. Jeff Bezos, ranked by Forbes as the world's second-richest person worth $171 billion, is noticeably missing from The Giving Pledge. She said in her pledge letter that giving money away has "richly rewarded" her. The Giving Pledge did not respond to Insider's request for comment.

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