Flows of new investor cash into funds managed by several Tiger Cubs – one-time protégés of Tiger Management founder Julian Robertson – have slowed dramatically after they posted some of their worst returns on record, according to a report by Bloomberg.
The report cites recent regulatory filings as revealing that Steve Mandel’s Lone Pine Capital attracted only $34m for its hedge fund for the 12 months to the end of March, while Dan Sundheim’s D1 Capital Partners pulled in just £30m in the 12 months to the end of July. The funds saw inflows of $364m and £1.4bn respectively, for the same periods twelve months earlier.
Philippe Laffont’s Coatue Management meanwhile, saw flows drop to $370m from $892m for the 12 months up to early May, the lowest level seen since at least 2017, while Chase Coleman’s hedge fund at Tiger Global Management added $13 million in the 12 months up to 7 July, versus $2 billion a year earlier.
