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/2021/07/bitcoin-2668211_640.jpg
Digital Assets: Bitcoin Closes In On $40K After Amazon Rumors Spark Rally
July 26, 2021     Digital Assets, News

Bitcoin, the leading cryptocurrency, which had been in a downtrend since its April highs, and tested $30,000 on more than one occasion, surged nearly 15% after a rumor that Amazon…

https://dailyalts.com/wp-content/uploads/2021/07/rivian-r1t-7.jpg
Venture Capital: Rivian Lands $2.5B; Plans Second EV Plant Including For Batteries
July 26, 2021     Latest News, News, Venture Capital

Electric vehicle maker Rivian announced Friday (July 23, 2021) its close of a $2.5 billion funding round led by Amazon’s (NASDAQ: AMZN) Climate Pledge Fund, D1 Capital Partners, Ford Motor…

https://dailyalts.com/wp-content/uploads/2021/07/champagne-2178775_640.jpg
Liquid Alternatives: Three Reasons
July 26, 2021     Liquid Alternatives, News

Spawned after the 2008 financial crisis, liquid alternatives have disappointed investors. During the 2010s, these instruments averaged an annualized gain of 1.66%. Writing in Morningstar, columnist John Rekenthaler makes a…

https://dailyalts.com/wp-content/uploads/2021/07/Ez4eEsTWUAMC8Gz.jpg
FinTech: UK-Based PensionBee Reports Assets Under Administration Have Doubled In A Year
July 26, 2021     FinTech, News

An influx of new customers has boosted two-fold PensionBee’s assets under administration as at June 30, 2021. Further, in a landmark year, PensionBee (LON: PBEE) raised £55 million from an…