Wednesday, 31 August 2016
Last updated 12 hours ago
Jul 17 2014 | 12:45pm ET
TPG Capital’s first hedge fund is opening its doors to clients after posting impressive early returns.
The private-equity giant launched the stock fund last year. The vehicle invests in listed stocks, seeking to deploy “all of the data, research and intellectual property” of TPG’s $50 billion p.e. portfolio, Justin Nunez, a marketer at the firm, told potential investors in a recent letter.
TPG and an unidentified partner seeded the vehicle, run by former Conatus Capital trader Alex Gleser, with $100 million last summer, according to Hedge Fund Alert. The fund has since returned 24% and now manages $150 million.
In addition to the letter, TPG has been meeting with small groups of investors to discuss the strategy, HFA reports.