Ainslie Up 20% as Stock Hedge Funds Defy Four-Year Slump
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Lee Ainslie’s Maverick Capital Management LP, Steve Mandel’s Lone Pine Capital LLC and Ricky Sandler’s Eminence Capital LLC are beating global markets in 2012 as most stock hedge funds underperform for a fourth straight year.
The biggest fund at Ainslie’s $10 billion firm surged 20 percent through July, according to clients, who said the New York-based fund was helped by profitable bets on stocks it expected to fall as well as those it bet would rise, and by wagers outside the U.S. Mandel’s Lone Cypress hedge fund in Greenwich, Connecticut, returned 20 percent through Aug. 10, according to investors. Eminence Capital gained 16 percent through Aug. 3, according to clients of the New York-based firm.