Lone Pine Capital

Last updated
Lone Pine Capital
Company type Private company
Industry Investment fund
Founded1997 (1997)
Founder Stephen Mandel
Headquarters
Greenwich, Connecticut
,
US
Products Hedge fund
AUM US$15.2 billion
(August 2023) [1]
Website www.lonepinecapital.com

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]

Contents

History

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] Mandel led the firm until January 2019, when he stepped back from day-to-day activity into a mentorship role with less investment oversight. [1]

As of August 2023, Lone Pine Capital reported $15.2 billion under management. [1]

Investment strategy

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

  1. 1 2 3 Burton, Katherine (28 August 2023). "Lone Pine Clients Pulled About $3 Billion in Span of a Year". www.bloomberg.com. Retrieved 22 May 2024.
  2. ↑ "Sign In". www.lonepinecapital.com. Retrieved 2021-06-13.
  3. ↑ Yakowicz, Will (15 March 2019). "College Admissions: How Billionaires (Legally) Pump Millions Of Dollars Into Their Children's Schools". Forbes. Retrieved 22 May 2024.
  4. ↑ 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)
  5. ↑ 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.
  6. ↑ Armental, Maria (8 May 2024). "Lone Pine Capital Resumes Private-Market Investments". WSJ. Retrieved 22 May 2024.
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