Hedge Funds: Lone Pine Hits the Jackpot

https://dailyalts.com/wp-content/uploads/2020/08/Lone-Pine.jpg

200% Gain on Afterpay Investment. 

United States-based hedge fund Lone Pine Capital has hit a $56 million jackpot in profits on Afterpay.  This firm made returns of over 200 percent on a $27 million investment in Afterpay shares.  Its total proceeds exceeded $80 million in just a few months.  Its investments were scattered across four funds — Lone Cascade, Lone Sierra, Lone Spruce, and Lone Redwood.  The average price floated between $18 and $19 per share.  

Afterpay — an Australian financial technology company — is now worth over $20 billion and has proven fruitful for investors.  In June, the company rose by 224 percent.  Many fund managers are eyeing this stock, though it could be a risky and divisive investment.  

Luckily for Lone Pine Capital, many of its investors will benefit from the $56 million profit.  Lone Pine Capital currently has $16.8 billion in assets under management.  The firm is betting on other companies like Amazon, Paypal, alnd Atlassian.  Lone Pine is a hedge fund headquartered in Greenwich, Connecticut.  It has offices in New York City and San Francisco.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/04/bitcoin-4317828_640.jpg
Digital Assets: MicroStrategy To Pay Directors In Bitcoin
April 12, 2021     Digital Assets, News

In a unique plug for bitcoin’s adoption, MicroStrategy (NASDAQ: MSTR), the business information firm, has decided to pay its non-employee directors in bitcoin. The company has been a trendsetter, setting…

https://dailyalts.com/wp-content/uploads/2021/04/frog-1339894_640.jpg
Alternative Investments/Digital: Yet Another Bitcoin ETF Application; Galaxy Digital Is The Latest Hopeful

Galaxy Digital, the cryptocurrency investment firm led by Mike Novogratz, has filed an application with the SEC to launch a bitcoin ETF that will trade on the NYSE Arca. The…

https://dailyalts.com/wp-content/uploads/2021/04/DjDeFVDU4AAjJ26-scaled.jpg
Artificial Intelligence: Microsoft Eyeing Acquisition of Nuance Communications (Bloomberg)

Microsoft (NASDAQ: MSFT) may buy Nuance Communication (NASDAQ: NUAN) at a valuation of $56 per share, according to Bloomberg, which cited unnamed people who were familiar with the matter. The…

https://dailyalts.com/wp-content/uploads/2021/04/dollar-2891849_640.jpg
Venture Capital: Supervest, A Platform That Matches Loan-Seeking Merchants With Investors, Is Seeking Funds
April 12, 2021     FinTech, News, Venture Capital

Supervest calls it a new asset class. Merchant cash advances (MCA) are a form of short-term financing for merchants in the form of a sales agreement in which capital is…