Bill Hwang Invested Millions in Other Tiger Cubs, Including Chase Coleman’s Tiger Global and Steve Mandel’s Lone Pine

The liquidation of Bill Hwang’s Archegos Capital family office last month is inadvertently shedding new light on the secretive hedge fund family of Tiger Cubs, Seeds and Grandcubs to which he belongs.

在2012年在证券交易委员会安顿下来的Insider交易费后，Hwang可能已经关闭了他的对冲基金虎亚，但他并没有从老虎管理的朱利安罗伯逊前射域的俱乐部中断。

事实上,在草原黄投资t $65 million in more than 20 other hedge funds with ties to Tiger Management, according to tax filings of the Grace and Mercy Foundation, Hwang’s charity, which had amassed over $470 million as of 2018. The filings show investments made between 2007 and 2017, the latest data available.

“This cross-Tiger fund investing goes on all the time,” said one individual familiar with the hedge fund family. “They use it as a way to access idea flow.”

Chase Coleman’s Tiger Global Management and Steve Mandel’s Lone Pine are the two most famous Tiger Cubs that Hwang invested with, the filings show.

Hwang和Coleman都是high-profile seedsof Robertson’s in 2001, but their paths have diverged since Hwang’s troubles with regulators led him to turn his hedge fund into a family office.

Coleman, meanwhile, has become one of the top hedge fund managers in the world. He made $2.5 billion last year, coming in third on亚博赞助欧冠’sRich List.

Hwang自2007年以来一直是虎全球的投资者，但2011年和2013年，他报告了他的一些投资，赚取约130万美元投资460万美元。

He remains an investor in Tiger Global, according to an individual familiar with the hedge fund.

The Tigers are known for investing in a lot of the same stocks, and there is one such recent cross-over between Tiger Global and Archegos that got pummeled in thelate March liquidation作者：王莹，郧阳轩酒店

截至去年年底，Tiger Global是GSX中最大的知名对冲投资者，中国在线教育公司，即短款卖家所说的欺诈是短挤压的一部分。据投资者称，三月全球下跌5.3％。

Mandel’s Lone Pine, one of the oldest of the Tiger Cubs, was in another one of the stocks that reportedly was part of the liquidation: Farfetch. Its Lone Cascade long/short hedge fundfell 10 percentduring the quarter, asIIpreviously reported.

Hwang’s foundation reported a distribution from Lone Cascade of almost $150,000 in 2018. A spokesman for Lone Pine declined to say whether Hwang was still an investor in the fund.

Hwang投资于虎虎相关的对冲基金的总额及其价值，毫无疑问低调，因为除非它收到分配或赎回其资本，否则基金会不必报告其对冲基金的投资。如果基金被关闭，那么近年来，近年来在罗伯逊在金融危机之前播种的初创物中的一个源是一个源头的一个来源的初始化有关的基金已经完成了一些与之相关的基金。

Hwang’s biggest loss reported in the filings was Asia-focused Kelusa Capital, where he lost $2.2 million on a $6 million investment in 2010 —and more in later years. Kelusa is no longer registered with the SEC, an indication that it has either shut down or has sunk below $100 million and therefore is no longer required to register.

Other big losers were Thrax Management and Goshen Global, neither of which are currently registered with the SEC. Hwang lost more than $1.2 million on a Thrax investment of $4 million and $1.3 millionon his $2.5 million investment in Goshen. In 2011, he reported a loss of $1.1 million on a $3.5 million investment in DLH Capital, which is also not registered.

Hwang also lost money investing in Tiger funds Long Oar Global Investors, Cascabel Management, Saferidge Capital Partners, Axial Capital Management, and WRA Investment Partners — all of which are no longer registered with the SEC. In addition, he lost around $376,000 on a $1.5 million investment in Hound Partners, which remains an active hedge fund.

与此同时，前虎亚的创始人在白榆树资本，老虎消费者管理，老虎veda管理和shumway资本中赚钱，这已经百现而后。Hwang还在静止积极的发现资本管理，Miura全球管理和SRS投资管理中获得了收益。

In addition to investing in hedge funds, the foundation has also held investments in stocks popular with the Tiger crowd, including Amazon, Facebook, Netflix, and Apple.

但恩典和慈悲基础似乎更多的资产采集者，每年的最低捐款金额。2018年，it reported qualified distributions of only $20 million — or less than 5 percent of its assets —to various charities, most of them related to Christian organizations.

A spokesman for Hwang did not return a request for comment by presstime.