Billionaire Julian Robertson Jr.'s hedge fund to shut down
A hedge fund initially funded by Locust Valley billionaire Julian Robertson Jr. will shut down, according to a Bloomberg report. Credit: Bloomberg News
A hedge fund initially funded by Locust Valley billionaire Julian Robertson Jr. will shut down, according to a Bloomberg report.
The Manhattan fund, TigerShark Management, will return about $100 million to investors at the end of March, according to unnamed sources cited by Bloomberg.
The hedge fund, which opened in February 2001, followed a strategy of balancing long positions in assets expected to appreciate against short positions whose portfolio value would climb if the underlying assets declined. Assets peaked at about $300 million, according to Bloomberg.
Robertson, 83, is the co-founder of Manhattan-based Tiger Management LLC. He ranked No. 512 on a Forbes list of global billionaires with a fortune valued at $3.4 billion, up $200 million from a year ago.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
