Lone Pine Capital
 | |
 Headquarters in Greenwich, Connecticut, US | |
| Company type | Private company |
|---|---|
| Industry | Investment fund |
| Founded | 1997 |
| Founder | Stephen Mandel |
| Headquarters | , US |
Key people | Stephen Mandel, president |
| Products | Hedge fund |
| AUM | US$15.2 billion (August 2023)[1] |
| Website | www |
Lone Pine Capital is an American-based hedge fund and investment advisor headquartered in Greenwich, Connecticut. The firm has offices in London, New York City, and San Francisco.[2]
History
[edit]Lone Pine Capital was established in 1997 by its president and portfolio manager, Stephen Mandel. The firm was named after a pine tree on the Dartmouth College campus that survived a lightning strike in 1887.[3]
Mandel previously worked for Julian Robertson at the firm Tiger Management, making Lone Pine one of the 30 or more so-called "Tiger Cubs", funds founded by managers who started their investment careers with Tiger Management.[4]
As of August 2023, Lone Pine Capital reported $15.2 billion under management.[1]
Investment strategy
[edit]Lone Pine Capital's investment vehicles include the Cypress hedge fund, its flagship fund, and its long-only Cascade strategy. As of 2024, the Cascade strategy held a majority of the firm's assets.[5]
Between 2021 and 2023, the firm shifted its focus to investments in publicly traded companies, but resumed private investments in April 2024 when it acquired a minority stake in Canva and Spotnana Technology.[6]
References
[edit]- ^ a b Burton, Katherine (28 August 2023). "Lone Pine Clients Pulled About $3 Billion in Span of a Year". www.bloomberg.com. Retrieved 22 May 2024.
- ^ "Sign In". www.lonepinecapital.com. Retrieved 2021-06-13.
- ^ Yakowicz, Will (15 March 2019). "College Admissions: How Billionaires (Legally) Pump Millions Of Dollars Into Their Children's Schools". Forbes. Retrieved 22 May 2024.
- ^ Gal, Bradley Saacks, Shayanne. "One of Julian Robertson's Tiger Cubs is at the center of a major market meltdown. Here's a look at the billionaire's sprawling web of hedge fund spinoffs". Business Insider. Retrieved 2021-06-13.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ Saacks, Bradley (10 January 2024). "Lone Pine, Steve Mandel's $15 billion hedge fund, bounced back in 2023 following clients pulling out billions". Business Insider. Retrieved 22 May 2024.
- ^ Armental, Maria (8 May 2024). "Lone Pine Capital Resumes Private-Market Investments". WSJ. Retrieved 22 May 2024.
External links
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- Tiger Cub firms
- Investment management companies of the United States
- 1997 establishments in the United States
- Hedge fund firms in Connecticut
- Companies based in Greenwich, Connecticut
- Financial services companies established in 1997
- Privately held companies based in Connecticut
- United States financial services company stubs