Otter Rock Joins Tiger Family As Alix Karlan Plans $300 Million Launch

Alix Karlan is benefiting from the renewed urge for food for old-school inventory pickers.The previous know-how sector head for Tom Purcell’s $3 billion hedge fund Alua Capital is planning to launch Otter Rock within the fourth quarter of this 12 months, an individual near the agency advised Enterprise Insider. The fund’s commingled car is predicted to boost $300 million earlier than launch, and there is a probability the agency may tackle further capital by way of a individually managed account, the particular person stated.Karlan declined to remark.The brand new fund will put money into shares throughout completely different sectors, with a concentrate on firms present process technological disruption, the particular person stated. It is going to be based mostly in Stamford, the Connecticut city that can also be the headquarters for Steve Cohen’s Point72 and Paul Tudor Jones’ long-running funding supervisor.Up to now, the agency has employed Dan Beckham as chief working officer. Beckham, in keeping with his LinkedIn profile, has labored in varied govt roles in asset administration for many years, most lately as the top of investor relations and enterprise growth at personal fairness agency Saturn V Capital.Karlan began as an analyst at Andreas Halvorsen’s Viking International earlier than going to Stanford Enterprise College. He joined Purcell’s agency in 2015 and labored there till the beginning of 2024, when he started buying and selling his personal capital utilizing the technique he plans to deploy at Otter Rock.He is the most recent addition to the prolonged Tiger Administration household tree, which incorporates big-name managers often called Tiger Cubs, akin to Tiger International, Coatue, Lone Pine, and the aforementioned Viking, in addition to funds began by former workers of those managers. Alua, for instance, is run by Purcell, a former govt at Viking, and Marco Tablada, a onetime Lone Pine investor.Regardless of Julian Robertson, the billionaire founding father of the legendary agency, passing away in 2022, his agency remains to be lively and continues his legacy of backing exterior managers. The Tiger Cubs, began by former analysts of Robertson’s, have spawned the following era of stockpicking hedge funds, led by Viking specifically.Former Viking buyers who’ve develop into founders embody Purcell, D1 founder Dan Sundheim, Avala International founder Divya Nettimi, and Voyager International founder Grant Wonders. The trade can also be intently monitoring the progress of former Viking govt Ning Jin’s soon-to-launch agency, Avantyr Capital.