(Bloomberg) -- Wildcat Capital Management, founded as the family office of billionaire David Bonderman, has invested more than $200 million with Whitebark Investors, a hedge fund led by Thomas McConnon that was spun out of Wildcat.
“We are very happy with the differentiated returns Tom has generated for Wildcat over the past six years and we are very excited to invest with him going forward,” Wildcat Chief Investment Officer Len Potter said in an emailed statement. He declined to provide returns.
Whitebark, where McConnon is the CIO, launched last month.
It’s “focused on building a public equity portfolio with a patient, high-conviction, long-biased, global approach,” the Incline Village, Nevada-based firm said through a spokesman.
As much as 25% of Whitebark’s capital can be invested in closely held companies that are expected to pursue initial public offerings, the spokesman said.
Whitebark is investing “with the expectation of holding most positions for five years or longer,” according to a regulatory filing. The firm has a flexible mandate across any geography, company size and sector, and will take long positions as well as limited short positions.
McConnon, who joined Wildcat in 2018, previously worked at Indaba Capital Management and TPG Inc., which Bonderman co-founded.
Wildcat now manages money for Bonderman as well as others. He has a net worth of $4.1 billion, according to the Bloomberg Billionaires Index.
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