Tuesday, 5 May 2015
Last updated 9 hours ago
Oct 9 2013 | 10:28am ET
Lone Pine Capital is set to launch its first long/short hedge fund in more than a decade early next year.
The New York-based firm will roll out the Tamarack Fund in January, Institutional Investor reports. Tamarack will focus on more liquid stocks, trading only those names with average daily volume of $50 million or more. Lone Pine's Lone Kauri fund invests in stocks with at least $20 million in average daily volume.
Tamarack will invest in between 40 and 50 names at a time.
Lone Pine's existing Lone Cypress and Lone Kauri funds will have a roughly 80% overlap with Tamarack.
Tamarack is expected to debut with about $2 billion. It will be the $22 billion firm's first new fund since the launch of Lone Cascade, a long-only vehicle, in 2005, and its first long/short vehicle since Lone Kauri debuted in 2001.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…