'Tiger Cub' Hedge Fund Manager Lee Ainslie Is Killing It This Year

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"Tiger Cub" Lee Ainslie III is making a huge turnaround so far this year. 

Bloomberg News Katherine Burton reports that his ~$10 billion AUM long/short equity hedge fund Maverick Capital's biggest fund was up 20% through July.

That's a huge comeback compared to the flagship fund's performance last year.  

In 2011, Ainslie's flagship fund was down 14.85%, Reuters' Katya Wachtel reported earlier this month.  

Ainslie, who previously worked at Julian Robertson's Tiger Management, helped start Maverick back in 1993.  

For more hedge fund performance numbers, read the full Bloomberg report here.