Tybourne Capital Management Explained

Tybourne Capital Management
Type:Private
Industry:Investment Management
Location:AIA Central, Hong Kong
Founders:Eashwar Krishnan
Tanvir Ghani
Aum: (2021)[1]
Footnotes:[2]

Tybourne Capital Management (Tybourne) is a growth investment firm based in Hong Kong with an additional office in San Francisco. The firm makes investments in both public and private markets globally.

Background

Tybourne was founded as a hedge fund in 2012 by Eashwar Krishnan and Tanvir Ghani.[3] [4] [5] [6] Krishnan was previously the Head of Asia at Lone Pine Capital.[7] Ghani was previously a managing director of Prime brokerage at Hong Kong office of Goldman Sachs. Tybourne is considered part of the Tiger Cub group due to the firm being spun out from one.[8] The flagship fund known as the Tybourne Equity Master Fund raised $500 million in its debut and employed a Long/short equity strategy.[9] Later on it would also have a long-only fund.

Tybourne's flagship fund had a return of 16.04% and 12.70% in 2013 and 2015 respectively. In 2015, Tybourne was ranked as one of the largest hedge fund buyer of Alibaba American depositary receipts. From a report near the end of 2016 from Bloomberg News, the fund made money every year.

In 2019, Tybourne established the Tybourne Strategic Opportunities Fund which would invest in private companies.[10] The University of Michigan committed $50 million to the fund.

In 2020, the Tybourne Equity Master Fund returned almost 53% after a successful COVID-19 strategy.[11] [12]

In May 2021, Tybourne established the Tybourne Strategic Opportunities Fund II. In July, the University of Michigan committed another $50 million to that fund.

In December 2021, Tybourne shut down its $2.8 billion flagship hedge fund and returned money to investors citing difficulties in profitability. The Fund declined by over 16% during 2021. The firm going forward would focus only on its long-only strategy and private investment funds.

Notable private investments

Notes and References

  1. Web site: Hedge Funds Push Deeper Into Private Equity's Turf in Asia . Bloomberg.com . en . 16 June 2021 . 6 March 2023 . 30 October 2021 . https://web.archive.org/web/20211030074939/https://www.bloomberg.com/news/articles/2021-06-16/hedge-funds-push-deeper-into-private-equity-s-turf-in-asia . live .
  2. Web site: Form ADV . SEC . 6 March 2023 . 6 March 2023 . https://web.archive.org/web/20230306110137/https://reports.adviserinfo.sec.gov/reports/ADV/164723/PDF/164723.pdf . live .
  3. News: 17 July 2012 . Ex-Lone Pine Manager Is Said to Start $500 Million Hedge Fund . en . Bloomberg.com . 6 March 2023 . 4 September 2016 . https://web.archive.org/web/20160904212051/http://www.bloomberg.com/news/articles/2012-07-17/ex-lone-pine-manager-is-said-to-start-500-million-hedge-fund . live .
  4. Web site: Lamar . Mia . Tybourne Flagship Fund Gains in 2013 . 6 March 2023 . WSJ . en-US.
  5. News: 18 November 2015 . Tybourne, Myriad Among Largest Hedge-Fund Buyers of Alibaba . en . Bloomberg.com . 6 March 2023 . 1 June 2016 . https://web.archive.org/web/20160601071010/http://www.bloomberg.com/news/articles/2015-11-18/tybourne-myriad-among-largest-hedge-fund-buyers-of-alibaba . live .
  6. Web site: 8 December 2021 . University of Michigan commits $50m to Tybourne Capital's latest private fund . 6 March 2023 . https://web.archive.org/web/20211208115143/https://www.dealstreetasia.com/stories/university-michigan-tybourne-fund-273060/ . 8 December 2021 .
  7. News: 28 November 2016 . Tybourne Capital's Anand Plans Asia-Focused Hedge Fund . en . Bloomberg.com . 6 March 2023 . 29 November 2016 . https://web.archive.org/web/20161129154737/http://www.bloomberg.com/news/articles/2016-11-28/tybourne-capital-s-anand-said-to-plan-asia-focused-hedge-fund . live .
  8. News: 4 June 2021 . Tiger Cubs: How Julian Robertson built a hedge fund dynasty . Financial Times . 6 March 2023 . 6 March 2023 . https://web.archive.org/web/20230306112711/https://www.ft.com/content/e1d1c558-9a87-4843-9cd8-29ab203b7911 . live .
  9. Web site: Tiger Grandcub Tybourne Posts Double-Digit Gains . 6 March 2023 . Institutional Investor . en-gb . 6 March 2023 . https://web.archive.org/web/20230306144426/https://www.institutionalinvestor.com/article/b18bk645vzch43/tiger-grandcub-tybourne-posts-double-digit-gains . live .
  10. Web site: May 2020 . Absolute Return and Alternative Asset Commitments . University of Michigan . 6 March 2023 . 6 March 2023 . https://web.archive.org/web/20230306160618/https://regents.umich.edu/files/meetings/05-20/2020-05-IX-1.pdf . live .
  11. Web site: This Hong Kong Hedge Fund With Tiger Management Ties Crushed It in the Second Quarter . 6 March 2023 . Institutional Investor . en-gb . 6 March 2023 . https://web.archive.org/web/20230306144426/https://www.institutionalinvestor.com/article/b1mq8qskjb1lq0/this-hong-kong-hedge-fund-with-tiger-management-ties-crushed-it-in-the-second-quarter . live .
  12. News: 15 December 2021 . Hong Kong's Tybourne to Shut $2.8 Billion Hedge Fund . en . Bloomberg.com . 6 March 2023 . 20 December 2021 . https://web.archive.org/web/20211220033411/https://www.bloomberg.com/news/articles/2021-12-15/tybourne-to-shut-2-8-billion-hedge-fund-on-short-selling-pains . live .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Tybourne Capital Management".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.