Investments
49Portfolio Exits
13Partners & Customers
1About Lone Pine Capital
Lone Pine Capital LLC (LPC) is a privately owned hedge fund sponsor. The firm invests in the public equity markets of the United States. It employs long/short strategy to make its investments. Lone Pine Capital was founded in 1997 and is based in Greenwich, Connecticut.

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Latest Lone Pine Capital News
Aug 28, 2023
Lone Pine Clients Pulled About $3 Billion in Span of a Year Katherine Burton, Bloomberg News , Source: Bloomberg reporting (Bloomberg) -- Lone Pine Capital clients withdrew an estimated $3 billion from its funds in the 12 months through June, even as investment performance at Steve Mandel’s firm rebounded from a bruising 2022. Clients pulled about $1.2 billion from Lone Pine’s Cypress hedge fund, or roughly 20% of the pool’s assets, according to investors and Bloomberg calculations. Redemptions from Lone Pine’s long-only Cascade fund totaled approximately $1.7 billion, or 16% of assets. Roughly two-thirds of the redemptions occurred in the second half of 2022, a year in which both funds incurred significant losses. The hedge and long-only funds tumbled 37.6% and 42%, respectively, for the share classes that include private investments. A spokesperson for the Greenwich, Connecticut-based firm declined to comment. It had been a tough few years for many equity hedge funds. Firms including Light Street Capital Management, Whale Rock Capital Management and Tiger Global Management all posted investment losses exceeding 40% over the previous two calendar years. Glen Kacher’s Light Street ended 2022 with $605 million under management, down from $2 billion at the end of the preceding year, as losses drove clients to retreat. Lone Pine, meanwhile, is off to a better start this year, with the hedge fund gaining 12% through July and the long-only fund surging 22%. Assets under management totaled $15.2 billion at midyear, including $4.75 billion in Cypress and $10.4 billion in Cascade. In July 2022, Lone Pine told clients that it was re-positioning its portfolio. The investment team led by Kelly Granat and Dave Craver said it was shifting toward “steady compounders,” while trimming growth stocks. It also reduced leverage, added to its short bets and increased stakes in some beaten-down equities, including high-end retailer RH, Taiwan Semiconductor Manufacturing Co. and Workday Inc. During this year’s second quarter, Lone Pine took new stakes in Live Nation Entertainment Inc. and Nvidia Corp., according to a regulatory filing. Mandel, 67, stepped back from day-to-day management in January 2019, though he still serves as a mentor and is involved in health-care investments. Despite last year’s losses, the hedge fund has produced annualized returns of 15% since inception, outpacing global stock markets and trouncing many peers. --With assistance from Hema Parmar. ©2023 Bloomberg L.P.
Lone Pine Capital Investments
49 Investments
Lone Pine Capital has made 49 investments. Their latest investment was in Airwallex as part of their Series E - III on October 10, 2022.

Lone Pine Capital Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
10/11/2022 | Series E - III | Airwallex | $100M | No | 1835i, Hermitage Capital, HongShan, Hostplus, Lone Pine Capital, Salesforce Ventures, Square Peg Capital, Tencent, and Undisclosed Investors | 37 |
4/21/2022 | Series E | Convoy | $160M | No | 3 | |
1/27/2022 | Series B | Skims | $240M | Yes | 14 | |
12/20/2021 | Series F | |||||
12/16/2021 | Series F |
Date | 10/11/2022 | 4/21/2022 | 1/27/2022 | 12/20/2021 | 12/16/2021 |
---|---|---|---|---|---|
Round | Series E - III | Series E | Series B | Series F | Series F |
Company | Airwallex | Convoy | Skims | ||
Amount | $100M | $160M | $240M | ||
New? | No | No | Yes | ||
Co-Investors | 1835i, Hermitage Capital, HongShan, Hostplus, Lone Pine Capital, Salesforce Ventures, Square Peg Capital, Tencent, and Undisclosed Investors | ||||
Sources | 37 | 3 | 14 |
Lone Pine Capital Portfolio Exits
13 Portfolio Exits
Lone Pine Capital has 13 portfolio exits. Their latest portfolio exit was Klaviyo on September 20, 2023.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
9/20/2023 | IPO | Public | 1 | ||
6/17/2022 | Reverse Merger | 4 | |||
11/18/2021 | IPO | Public | 12 | ||
Date | 9/20/2023 | 6/17/2022 | 11/18/2021 | ||
---|---|---|---|---|---|
Exit | IPO | Reverse Merger | IPO | ||
Companies | |||||
Valuation | |||||
Acquirer | Public | Public | |||
Sources | 1 | 4 | 12 |
Lone Pine Capital Acquisitions
1 Acquisition
Lone Pine Capital acquired 1 company. Their latest acquisition was Torchy's Tacos on November 24, 2020.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
11/24/2020 | Growth Equity | Acq - Fin | 4 |
Date | 11/24/2020 |
---|---|
Investment Stage | Growth Equity |
Companies | |
Valuation | |
Total Funding | |
Note | Acq - Fin |
Sources | 4 |
Lone Pine Capital Partners & Customers
1 Partners and customers
Lone Pine Capital has 1 strategic partners and customers. Lone Pine Capital recently partnered with SS&C Technologies on May 5, 2012.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
5/17/2012 | Vendor | United States | SS&C Technologies, Inc. - Lone Pine Capital Selects SS&C's Form PF Reporting Services WINDSOR , Conn. , May 17 , 2012 -- SS&C Technologies , a global provider of financial services software and software-enabled services , today announced Lone Pine Capital LLC has selected SS&C Technologies for its Form PF reporting solution . | 1 |
Date | 5/17/2012 |
---|---|
Type | Vendor |
Business Partner | |
Country | United States |
News Snippet | SS&C Technologies, Inc. - Lone Pine Capital Selects SS&C's Form PF Reporting Services WINDSOR , Conn. , May 17 , 2012 -- SS&C Technologies , a global provider of financial services software and software-enabled services , today announced Lone Pine Capital LLC has selected SS&C Technologies for its Form PF reporting solution . |
Sources | 1 |
Lone Pine Capital Team
2 Team Members
Lone Pine Capital has 2 team members, including former Managing Director, Kevin A. Carson.
Name | Work History | Title | Status |
---|---|---|---|
Kevin A. Carson | Managing Director | Former | |
Name | Kevin A. Carson | |
---|---|---|
Work History | ||
Title | Managing Director | |
Status | Former |