Lone Pine Capital

Last updated
Lone Pine Capital
Company type Private company
Industry Investment fund
Founded1997 (1997)
Founder Stephen Mandel
Headquarters,
US
Key people
Stephen Mandel, president
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]

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]

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References

  1. 1 2 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.