She died in June 2010 from breast cancer. Julian married Josephine Tucker Robertson in 1972. Robertson was an investor and developer in New Zealand and owned three lodges: Kauri Cliffs Lodge near Matauri Bay in Northland Matakauri Lodge Queenstown and The Farm at Cape Kidnappers, Hawkes Bay, as well as several wineries. Robertson later mentored and provided seed funding to many notable hedge fund managers, known as the Tiger cubs, including Ole Andreas Halvorsen, Stephen Mandel of Lone Pine Capital, Lee Ainslie of Maverick Capital, Bill Hwang, and Chase Coleman III. After closing his fund in 2000, Robertson supported and financed upcoming hedge fund managers in return for a stake in their fund management companies.
From the closure of his fund in 2000 until January 2008, his return on his personal fortune was 403%. Robertson said in 2008 that he shorted subprime securities and used credit default swaps to make a 76.7% return on investment in 2007. Such missteps ultimately led him to close his investment company in late March 2000, at the peak of the dot-com bubble, and return all outside capital to investors. Tiger also realized significant losses in the Japanese Yen. Its troubles led to significant losses for the fund. Tiger's largest holding was US Airways it controlled 25% of the company. Robertson's Tiger Fund accurately predicted the dot-com bubble, purposely underweighting the technology sector. The Tiger funds reached a peak of $22 billion in assets in 1998. On his return to the United States, in 1980, with $8 million of funding from family, friends, and his own wealth, he founded Tiger Management. In 1978, he took a sabbatical and moved with his family to New Zealand for a year to write a novel. At Kidder, he eventually headed the firm's asset management division, Webster Securities. Īfter leaving the Navy, Robertson moved to New York City and worked for a time as a stockbroker for Kidder, Peabody & Company. Navy, traveling the world aboard a munitions ship until 1957. While at Chapel Hill, he was admitted to Zeta Psi fraternity and was a member of the Reserve Officers' Training Corps. He graduated from Episcopal High School in 1951 and the University of North Carolina at Chapel Hill in 1955. Robertson first became interested in stocks at age 6. He claimed that his father was a descendant of Pocahontas. Robertson was the son of Julian Hart Robertson Sr., a textile company executive, and Blanche Spencer, a local activist. At the time of his death, his net worth was estimated at $4.8 billion. He was also a signatory to The Giving Pledge. ĭuring his lifetime, Robertson contributed more than US$2 billion to charity. Tiger showed losses in only four of its 21 years. However, a sharp decline thereafter led to the fund closing in March 2000. From its inception in 1980 to its 1998 asset peak, his fund returned 31.7% per year after fees, compared to a 12.7% annual return from the S&P 500 over the same period. Robertson founded Tiger Management, one of the first hedge funds, in 1980. KNZM (J– August 23, 2022) was an American billionaire hedge fund manager, and philanthropist.
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