Maverick Launches Seeding Fund

Jul 22 2011 | 1:38pm ET

Add another powerful player to the increasingly crowded hedge fund seeding world: Maverick Capital Management.

Maverick has launched Maverick Seed Partners, allocating some $22 million to the new fund, the New York-based firm said in a Securities and Exchange Commission filing.

Maverick follows the Blackstone Group and Goldman Sachs into flush market for hedge fund seeders; according to Acceleration Capital Group, the amount of hedge fund seed capital available has doubled since the second half of 2009 to $2.6 billion.

Lee Ainslie, co-founder of the $11 billion firm, got his start working for one of the great seeders of all time, Tiger Management's Julian Robertson. But this Tiger cub didn't get his seed capital from Robertson, instead launching Maverick in 1993 with $38 million provided by Texas billionaire Samuel Wyly.

Maverick's seed plans were first reported by Bloomberg News.

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