Some of Julian Robertson’s “grand cubs” are having a tough time following up on a strong 2013.
The 81-year-old investor is the patriarch of the hedge fund world, with his Tiger Management spawning more hedge fund stars than anyone else on the planet.
But for three, 2014 is turning out to be a tough year so far. For example:
- Richard Gerson’s New York firm, Falcon Edge Capital, is flat through May, after a 28 percent gain last year, according to an investor. Gerson, 39, came out of Blue Ridge Capital, run byJohn Griffin, one of the original so-called Tiger cubs — those who worked with Robertson at his original hedge fund.
- Things are worse for Paul Hudson’s $1.6 billion Glade Brook Capital Partners in Greenwich, Conn. Glade Brook is down 5.5 percent through May after a 22 percent gain in 2013, according to an investor.
Another big grand cub having a below-average year is David Stemerman’s $3 billion Conatus Capital, which is down 4.8 percent through May, an investor said.