Tiger-backed hedge fund firm Tyrian to close, source says

December 1, 2016 2:08 PM EST
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By Lawrence Delevingne

NEW YORK (Reuters) - Tyrian Investments LP, the stock-focused hedge fund manager backed by Julian Robertson's Tiger Management LLC, is shutting down, according to a person familiar with the situation.

New York-based Tyrian was founded in January 2010 by Orlando Muyshondt with so-called "seed" capital from Tiger, which is famous for backing promising hedge fund managers. Muyshondt did not immediately respond to a request for comment. Tiger declined to comment.

Tyrian managed $535.4 million in so-called regulatory assets as measured by the Securities and Exchange Commission at Dec. 31, 2015, according to a public disclosure. Such filings can exaggerate the actual capital managed because of leverage and other factors.

Its $259.5 million in publicly disclosed stock holdings included GCP Applied Technologies (NYSE: GCP), CoreLogic Inc (NYSE: CLGX) and Howard Hughes Corp (NYSE: HHC) as of Sept. 30.

The shutdown was first reported by financial news website ValueWalk.

(Editing by Bernadette Baum and Jeffrey Benkoe)

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