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Tybourne Capital Management

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Tybourne Capital Management
Company typePrivate
IndustryInvestment Management
Founded2012; 12 years ago (2012)
FoundersEashwar Krishnan
Tanvir Ghani
HeadquartersAIA Central, Hong Kong
AUMUS$8.6 billion (2021)[1]
Websitetybournecapital.com
Footnotes / references
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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

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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.[3][4][5][6][7] Ghani was previously a managing director of Prime brokerage at Hong Kong office of Goldman Sachs.[3][6][7] 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.[3][9] Later on it would also have a long-only fund.[7]

Tybourne's flagship fund had a return of 16.04% and 12.70% in 2013 and 2015 respectively.[4][9] In 2015, Tybourne was ranked as one of the largest hedge fund buyer of Alibaba American depositary receipts.[5] From a report near the end of 2016 from Bloomberg News, the fund made money every year.[7]

In 2019, Tybourne established the Tybourne Strategic Opportunities Fund which would invest in private companies.[6][10] The University of Michigan committed $50 million to the fund.[10]

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.[6] In July, the University of Michigan committed another $50 million to that fund.[6]

In December 2021, Tybourne shut down its $2.8 billion flagship hedge fund and returned money to investors citing difficulties in profitability.[12] The Fund declined by over 16% during 2021.[12] The firm going forward would focus only on its long-only strategy and private investment funds.[12]

Notable private investments

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References

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  1. ^ "Hedge Funds Push Deeper Into Private Equity's Turf in Asia". Bloomberg.com. 16 June 2021. Archived from the original on 30 October 2021. Retrieved 6 March 2023.
  2. ^ "Form ADV" (PDF). SEC. Archived (PDF) from the original on 6 March 2023. Retrieved 6 March 2023.
  3. ^ a b c d "Ex-Lone Pine Manager Is Said to Start $500 Million Hedge Fund". Bloomberg.com. 17 July 2012. Archived from the original on 4 September 2016. Retrieved 6 March 2023.
  4. ^ a b c Lamar, Mia. "Tybourne Flagship Fund Gains in 2013". WSJ. Retrieved 6 March 2023.
  5. ^ a b c "Tybourne, Myriad Among Largest Hedge-Fund Buyers of Alibaba". Bloomberg.com. 18 November 2015. Archived from the original on 1 June 2016. Retrieved 6 March 2023.
  6. ^ a b c d e f "University of Michigan commits $50m to Tybourne Capital's latest private fund". 8 December 2021. Archived from the original on 8 December 2021. Retrieved 6 March 2023.
  7. ^ a b c d "Tybourne Capital's Anand Plans Asia-Focused Hedge Fund". Bloomberg.com. 28 November 2016. Archived from the original on 29 November 2016. Retrieved 6 March 2023.
  8. ^ "Tiger Cubs: How Julian Robertson built a hedge fund dynasty". Financial Times. 4 June 2021. Archived from the original on 6 March 2023. Retrieved 6 March 2023.
  9. ^ a b "Tiger Grandcub Tybourne Posts Double-Digit Gains". Institutional Investor. Archived from the original on 6 March 2023. Retrieved 6 March 2023.
  10. ^ a b "Absolute Return and Alternative Asset Commitments" (PDF). University of Michigan. May 2020. Archived (PDF) from the original on 6 March 2023. Retrieved 6 March 2023.
  11. ^ "This Hong Kong Hedge Fund With Tiger Management Ties Crushed It in the Second Quarter". Institutional Investor. Archived from the original on 6 March 2023. Retrieved 6 March 2023.
  12. ^ a b c d "Hong Kong's Tybourne to Shut $2.8 Billion Hedge Fund". Bloomberg.com. 15 December 2021. Archived from the original on 20 December 2021. Retrieved 6 March 2023.
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