Lone Pine Analyst Li Starting New Long/Short Equity Fund

Mar 23 2016 | 8:34pm ET

An analyst at Stephen Mandel's Lone Pine Capital is striking out on his own with backing from the well-known hedge fund.

Senior analyst Ran Li is launching a new London-based long/short equities hedge fund, according to a Reuters article citing unidentified sources with direct knowledge of the plans. 

Li is aiming to launch the new venture, named Half Sky Capital, within six months and with between $110 million and possibly several hundred million in assets under management – a level that, if reached, would rank the fund among Europe’s largest launches so far this year. 

Lone Pine, which manages about $16 billion across a variety of alternative investment vehicles, will reportedly support Li’s new fund with start-up capital, Reuters reported. The firm has supported spinouts before, including Conatus Capital Management, White Elm Capital, and Tybourne Capital Management. 

Scott Philips, who spent almost a decade as a managing director at Lone Pine, launched Latimer Light Capital in early 2015, although it was not a spin out. 

Lone Pine itself is considered a spinout by Mandel, who was a manager with famed investor Julian Robertson’s Tiger Management and is considered a so-called Tiger cub. The firm was founded in 2007.

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