12/10/2011 Author: Tony Griffiths

Tiger Accelerator Fund raises $450m since launch

The Tiger Accelerator Fund, the first vehicle from Julian Robertson’s Tiger Management to open to outside investors in over a decade, has successfully raised the $450m planned for at its March launch and is weighing up a second round of asset gathering, HFMWeek.com revealed last week.   

According to Tiger spokesperson Fraser Seitel, the $450m total, which will be spread across six existing Tiger seeds, was successfully raised around August. The money is believed to have come from institutions and private wealth clients based largely in the US.

The six funds available via the current Accelerator portfolio are: Tiger Veda, Cacabel, Long Oar, Tiger Eye, Tiger Ratan and Teewinot funds. The six have also been seeded with around $230m of Robertson’s own money.

The success of the project means that the Tiger team is now “considering what to do for an encore,” said Seitel, with further fund raising likely. The size and format of the second wave is yet to be finalised, and whether any new money would go to the current six or other Tiger seeds in a second Accelerator fund,  “but all options are on the table”, he added.

It was revealed in February that Robertson, one of the industry’s best-known investors, was to return to managing external money having previously returned all outside investment in 2000.

In January, Gil Caffray returned to the firm as CIO, while last summer Robertson recruited John Townsend from Goldman Sachs as his new operations chief and promoted his son, Alex, to managing partner.

Tiger Management currently has around $30bn in assets under management in around 40 seeded funds.