Market Watch – The six-year bull market hasn’t been profitable for all investors, particularly for those who put an equal focus on shorting stocks as they do going long on them. Such is the case with Tigershark Partners, a market-neutral hedge fund managed by “Tiger Cub” Tom Facciola, who co-founded the fund in 2001 with Michael Sears after working at Tiger Management with Julian Robertson for one year. Bloomberg reports that according to a person familiar with the matter, the fund will return its $100 million in capital to investors by the end of the month and close its doors.
Tigershark Partners will be the second “Tiger Fund” to close its doors in March, as Tiger Consumer Management announced earlier this month that it would also close by the end of March. Unlike Tiger Consumer, whose manager Patrick McCormack cited a personal desire to spend more time with his family as a reason for the fund’s closure, Tigershark’s closure appears to be performance-based.
