The Morning Brief: Tiger Seed Shuts Down After Three Straight Losing Years

Another hedge fund seeded by the legendary Tiger Management founder Julian Robertson Jr. is shutting down after posting nearly three consecutive years of losses. Tyrian Investments, founded in 2010 by Orlando Muyshondt, is closing its event-driven, long-short hedge fund firm, according toValueWalk, citing two sources close to the fund. Its main fund, Tyrian Global Opportunities Fund, was down 15 percent this year, according to ValueWalk. It lost 3.1 percent in 2015 and 8.8 percent in 2014, according to several documents obtained by阿尔法.

The firm had $535 million under management at the end of 2015, according to its most recent ADV filing, about half the more than $1 billion it managed in 2014. Tyrian regularly told clients it targeted a net exposure of 20 percent to 40 percent and a gross exposure of 150 percent to 180 percent. A 2014 report sent by Tyrian to clients states: “Mr. Muyshondt is keenly focused on capital preservation as the majority of his liquid net worth is invested in the Fund.” Oh well.

一位不愿透露姓名的对冲基金投资者表示：“任何一个非家喻户晓的名字在两年内下跌都是令人敬佩的。”。“一年下来会有一些。”

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Tyrian’s announced closing comes one day after Paul Hudson’sGlade Brook Capital Partnersrevealed it will close its hedge fund and instead launch separate vehicles that will take large stakes in public securities, according toReuters. The Greenwich, Connecticut firm is planning to launch its first new fund, GB Special Opportunities Fund, in early 2017 with more than $200 million, according to the report.

据路透社报道，哈德森在11月29日的一封信中写道：“我们新的、更具机会主义倾向的公开市场投资方式，将使我们能够更好地利用大型投资理念，集中精力，根据特定的投资计划和客户的需要，为每只基金量身定做。”。

正如我们过去所报道的，大约1.5年前，格莱德布鲁克（Glade Brook）大幅提升了对Uber Technologies和Snap等私营企业的重视，并减少了对公众股票的敞口。截至10月1日，该公司12亿美元的总资产中有9.35亿美元投资于私募股权投资工具阿尔法. 哈德逊有时被称为虎崽，因为他曾是虎崽克里斯•舒姆韦（Chris Shumway）旗下舒姆韦资本合伙人公司（shumwaycapitalpartners）的董事总经理。

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阿尔法dyne Asset Management is spinning off its Asia investment team, according toBloomberg, citing a person with knowledge of the matter. The New York hedge-fund firm currently manages $4.8 billion in assets. Bart Broadman, Alphadyne co-founder and chief investment officer of its Asia strategy, will serve as CIO of the new firm, which will be based in Singapore. It will manage about $2 billion, according to the report. The changes will take place in the first half of next year. It will continue to focus on economic trends in Asia, trading markets such as interest rates and foreign exchange. Alphadyne was founded in 2005 by Broadman and Philippe Khuong-Huu, who previously worked together at JPMorgan Chase & Co.

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Shares of Rockwell Collins surged 3.6 percent on Thursday, to close at $96.07, afterBloombergreported that activist hedge fund firmStarboard Valueis pressuring the company to reconsider its planned $6.4 billion acquisition of B/E Aerospace. Starboard, headed by Jeffrey Smith, wants the supplier to airplane manufacturers to mull other options, including putting itself up for sale. Rockwell spokeswoman Pam Tvrdy told Bloomberg in an e-mailed statement: “We remain confident that the acquisition of B/E Aerospace will create significant value for our shareholders. We’re excited to bring together these two industry leaders and look forward to closing this transformative transaction in the spring of 2017.”

Shares of B/E Aerospace fell 1.7 percent, to close at $59.02. Boston-based海菲尔德资本管理公司截至第三季度末，是B/E航空公司的第三大股东。

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Separately, Starboard Value once again cut its stake in Insperity, to 4.8 percent. As a result, the activist firm no longer is required to report to regulators when it sells additional shares of the human resources services provider. In late May, Insperity and Starboard reached a compromise agreement whereby John Morphy, a director nominated by the Starboard, would be appointed to the board. Insperity’s board said it would launch a search for an additional independent director. The deal also called for the board to make changes to the composition of its standing committees.