Hedge fund legend Robertson seeds Tiger Pacific Capital
BOSTON Nov 5 (Reuters) - Billionaire hedge fund manager Julian Robertson, who has trained and seeded some of the hedge fund industry's biggest stars, is making an investment in Tiger Pacific Capital, a hedge fund focused on Asia.
Tiger Capital was founded by Run Ye, Junji Takegami and Hoyon Hwang, who previously worked for Tiger Asia Management, a $1.2 billion New York-based fund that was shut down in August in the face of an ongoing regulatory probe in Hong Kong.
Robertson has taken an active role in funding new startups ever since he closed down his own hedge fund to outsiders in 2000. He is known for having nurtured industry stars like Steve Mandel, John Griffin, and Chase Coleman.
According to Robertson and other investors, Asia is a rich region for investors, with plenty of potentially strong companies just starting up as well as possible frauds that could be bet against.
"Asia is the best area in the world to practice the hedge fund business," Robertson said in a statement.
Robertson's net worth is estimated at $2.6 billion. The 80-year-old manager ranks at 170 on the Forbes 400 list of richest Americans.
- Obama makes rare campaign trail appearance, people leave early
- Obama makes rare campaign trail appearance, some leave early
- Turkey to let Iraqi Kurds reinforce Kobani as U.S. drops arms to defenders |
- Nigeria declared Ebola-free, holds lessons for others |
- U.S. stocks end higher despite drag from IBM