Lone Pine Readies $2 Billion Hedge Fund

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.


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