"His new firm, Augnition Global Investors, is set to be a long-short equity investor that will also invest in private companies, a person close to the firm said. Alan Lo, a longtime partner and director of operations for New York-based SRS Investment Management, will be Wang's number two at the new fund. Those at the Breakers conference expect him to raise at least $1 billion, the two conference attendees told Business Insider."
"Last year's strong performance from long-short equity managers, along with headlining-grabbing launches from stockpickers Jin and former Coatue executive Daniel Senft, will only help Wang's profile, the two attendees added. A person close to the firm said Wang is prioritizing investors who want to be longtime partners with Augnition as the firm prepares to start trading later this year, and emphasized that Wang and Lo are putting a considerable amount of their own net worth into the fund. Wang declined to comment."
Jeff Wang will launch Augnition Global Investors later this year as a long-short equity investor that will also allocate to private-company investments. Alan Lo, a longtime partner and director of operations at SRS Investment Management, will serve as Wang's number two. The firm is expected to target at least $1 billion in initial capital, helped by recent strong performance among long-short equity managers and high-profile new fund launches. Wang and Lo are committing substantial personal net worth and are prioritizing investors seeking long-term partnerships. Wang led Sequoia's global equities business for more than a decade.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]