Washington, D.C. January 26, 2017. In 2019, according to SWFI data, Texas Municipal Retirement System committed US$ 125 million to Infinity Q Volatility Alpha Fund. The SEC document adds, “On February 18, 2021, based on information learned by the Commission staff and shared with Infinity Q, Infinity Q informed the Fund that Infinity Q’s Chief Investment Officer had been adjusting certain parameters within the third-party pricing model that affected the valuation of the Swaps. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization. Potter oversees Wildcat Capital Management, which managed more than US$ 3 billion at the end of 2019, including capital from David Bonderman. Wildcat also shares its name with the location of Bonderman’s home near Aspen, Colorado. The firm is a registered investment advisor, and has $1,031,887,715 in All material subject to strictly enforced copyright laws. The firm manages assets for 16 underlying vehicles and a total of 42 individuals including David’s family and friends. Bonderman, chairman and founding partner of TPG, founded Wildcat in 2011 with Leonard Potter, who is CIO of the operation. On February 19, 2021, Infinity Q informed the Fund that at such time it was unable to conclude that these adjustments were reasonable, and, further, that it was unable to verify that the values it had previously determined for the Swaps were reflective of fair value. Failing that, the company should develop a new business plan and “under no circumstances” buy any new assets. David Bonderman amassed a $3 billion fortune in private equity for sophisticated investors. By the age of 30, Velissaris founded his investment firm with financial support from David Bonderman (known as Bondo), a TPG Capital founder and protégé of Robert Bass. David Bonderman, the Wildcat Foundation’s funder, feeding an elephant at a sanctuary. James Velissaris got his chops at Wildcat Capital Management, LLC, a family office for David Bonderman that was formed in 2011. Our strategies are intended to have a low correlation to equity, fixed income, and credit markets.”. All rights reserved. Applicants further request that such order be made effective as of February 19, 2021, with the suspension of redemption requests to be effective as of February 19, 2021 and the postponement of payment of redemption proceeds to apply to redemption orders received but not yet paid as of February 22, 2021.”. The accelerating transformation of family offices in Italy. Deadly landslide hits the Indonesian dam venture within the orangutan habitat… Where African government agencies aren’t sufficiently developed to successfully manage the projects we have in mind, we seek a qualified NGO that we can support and that in turn can fund and assist the government agency to accomplish what needs doing. Wildcat had US$ 1.5 billion in assets in 2015. Spring Fertility is a chain founded by Peter Klatsky and Nam Tran that provides fertility treatments and egg freezing. WILDCAT FOUNDATION ↳ DAVID BONDERMAN TTEE FORT WORTH, TX 76102-4102 | Tax-exempt since Aug. 2014. ©2021 Bloomberg L.P. Wildcat Capital, which manages funds for the American billionaire David Bonderman, has called for management changes at a pharmaceutical firm, representing a rare public case of shareholder activism by a family office. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. When asked how he has used philanthropy to achieve conservation impact, David Bonderman who set up The Wildcat Foundation to help with law enforcement, anti-poaching and prevent wildlife trafficking in Africa said “I see the allocation of financial resources as a means to be able to help focus actions in order to get tangible results. In 1983, he joined the Robert M. BassGroup, Inc. (RMBG), which now does business as Keystone Inc., and became the chief operating officer. Bonderman was an assistant professor at Tulane University Law School during 1967 and 1968; he then was a special assistant to the United States Attorney General during 1968 and 1969. In a response to a U.S. government inquiry, Infinity Q Capital Management announced it’s shutting a US$ 1.8 billion mutual fund (the AUM amount cannot be officially confirmed). Wildcat Capital manages around $1.80 billion for the family of billionaire David Bonderman, the founding partner of private equity firm TPG Capital. Why family businesses should use poison pills, Plan rewards to retain your family office professionals, Acumen, capital and purpose: Family office private equity insights for 2021, Family offices cherry pick top executives in competitive Covid-19 labour market, Family office sector consolidates as Schroders acquires Sandaire. Potter is the owner of Wildcat Capital Management, which managed more than $3 billion at the end of 2019, including capital from Bonderman. Potter’s letter states these actions are for the “personal benefit of such officers and directors at the direct expense of the company and its shareholders”. Infinity Q Capital Management learned the U.S. Securities and Exchange Commission is probing whether Velissaris incorrectly valued complex derivatives. Asset managers have developed liquid alts for retail investors. The Investment team at Infinity Q develops next generation forecasting models to identify persistent behavioral biases across global markets. FB Roundup: Joel Glazer, Warren Buffett, Bill Gates. Wildcat Capital, which manages funds for the American billionaire David Bonderman, has called for management changes at a pharmaceutical firm, representing a rare public case of shareholder activism by a family office. View Drew Tarlow's business profile as Head of Private Investments at Wildcat Capital Management. In the letter, which is addressed to Sorrento’s board, the president and CIO of Wildcat, Len Potter, complains that Ji “has consistently acted in a manner that is not in the best interests of shareholders and has destroyed significant shareholder value”. There are few cases where family offices have gone public in their criticism of a company they have invested in, said Catherine Grum, KPMG’s head of family office. Daniel Bardsley is a freelance writer for CampdenFO and CampdenFB. In a statement emailed to media, Potter said Wildcat were “not activists” and had “tried to be constructive and offered our assistance to Dr Ji”. He earned his AB in Economics from Harvard University and his MS in Operations Research with a concentration in Financial Engineering from Columbia University. When David Bonderman, irreverent billionaire co-founder of buy-out firm TPG (formerly Texas Pacific Group), saunters in, the underemployed staff scurry over to greet him by name. Its website, which says the firm uses a “quantamental” strategy blending quantitative research with a private equity discipline, was in “maintenance mode” on Monday night. Among other things, Wildcat said it should be able to nominate three directors to a special committee “to undertake the actions necessary to preserve and maximise shareholder value”. It’s very unusual to see them putting their head above the parapet and entering into more public dialogue with a business.”. He began his career as an analyst at Goldman Sachs. © 2008-2021 Sovereign Wealth Fund Institute. As a result, the Fund was unable to calculate an NAV on February 19, 2021, and it is uncertain when the Fund will be able to calculate an NAV that would enable it to satisfy requests for redemptions of Fund shares.”. The firm is a registered investment advisor, and has $1.79 billion in assets under management. Other issues raised include “imprudent transactions” over the licensing of assets and investments, and what is described as “a complete inability to exercise financial discipline”. Wildcat Capital Management was founded in 2011 by Len Potter with the purpose of managing capital for the founding partner of TPG Capital, David Bonderman. Organizations that believe their project satisfies the grant guidelines are invited to contact the foundation with an inquiry. Bonderman, whose TPG Capital has owned companies such as Continental Airlines and retailer J Crew Group Inc., is using a family office that manages a portion of his money — Wildcat Capital Management — to back a startup investment … Infinity Q’s non-executive chairman is Leonard (Len) A. Potter. To celebrate David Bonderman's birthday on November 27th, Liverpool Solidarity Federation and the Ryanair Don't Care campaign are calling for a communications blockade of TPG's London office. David Bonderman is Chairman and Founding Partner of TPG. Potter served as a consultant to Soros Fund Management LLC. He is an active investor and co-invests with lead principals, including; Apollo, TPG, David Bonderman/Wildcat, and Fosun, and sits on several boards, including Rackspace Technology, Shutterfly Inc., Apollo Strategic Growth Capital (SPAC), and Fosun Fashion Group (Lanvin, Wolford, St John Knits, and Caruso). He is an active investor and co-invests with lead investors including; Apollo, TPG, David Bonderman/Wildcat, and Fosun, and sits on the boards of Rackspace Technology (Apollo), Shutterfly Inc. (Apollo), and Fosun Fashion Group (Lanvin, Wolford, St John Knits, and Caruso). Asset managers have developed liquid alts for retail investors. We currently have AUM north of $2.5 billion. The Trust, on behalf of the Fund, and Infinity Q are referred to herein collectively as the “Applicants.” Applicants request that the suspension remain in place until the Fund completes the liquidation of its portfolio and distributes all its assets to current and former shareholders, as described in the conditions, or, if earlier, the Commission rescinds the order requested herein. In 1971, he joined the law firm of Arnold & Porter in Washington, D.C., where he became a partner and specialized in corporate, securities, bankruptcy and antitrust litigation. “You might see a family working behind the scenes to try to help, but family offices are very discreet,” she said. Funds are rated from 1 to 5 stars, with the best performers receiving 5 stars and the worst performers receiving a single star. Managing wealth as a business: A family office—to be or not to be? Tarlow said via email that the family office “was launched to manage David Bonderman’s non-TPG investments so that he could dedicate his focus on TPG and its investors.” Fort Worth private equity billionaire David Bonderman purchased the 536-acre Wildcat Ranch in 1993 for $3.9 million. Wildcat Capital Management was founded in 2011 by Len Potter with the purpose of managing capital for the founding partner of TPG Capital, David Bonderman. Sovereign Wealth Fund Institute® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Infinity Q also informed the Fund that it would not be able to calculate a fair value for any of the Swaps in sufficient time to calculate an accurate NAV for at least several days. “Usually one of the reasons you have a family office is to give the family privacy and discretion. No affiliation or endorsement, express or implied, is provided by their use. From its August 2020 released annual report, “The Infinity Q Diversified Alpha Fund (the “Fund”) attempts to generate positive absolute returns by providing exposure to several “alternative” strategies including Volatility, Equity Long/Short, Managed Futures, and Global Macro. David Bonderman invested US$ 2 million in Infinity Q when the asset manager was formed by Velissaris and also invested in its funds. The Morningstar Rating is a measure of a fund’s risk-adjusted return, relative to similar funds. The inquiry can be sent via email to info@WildcatFoundation.US, or by letter to: The Wildcat Foundation c/o Rodger Schlickeisen 201 W. Rosemont Avenue Your use of this site is governed by the Terms and Conditions. The firm manages assets for 16 underlying vehicles and a total of 42 individuals including David's family and friends. Potter will take over management of the firm. He is an active investor and co-invests with lead principals, including; Apollo, TPG, David Bonderman/Wildcat, and Fosun, and sits on several boards, including Rackspace Technology, Shutterfly Inc., Apollo Strategic Growth Capital (SPAC), and Fosun … However, Infinity Q and the Fund currently believe that establishing and verifying those alternative methods may take several days or weeks. Work on his 14-bed, 14.5-bath, 15,842 sqft mansion was completed in 1997. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. Potter is the owner of Wildcat Capital Management, which managed more than $3 billion at the end of 2019, including capital from Bonderman. © 2001-2021 CampdenFB.com. A US mutual fund that suffered about $500 million in losses appears to have mispriced its large derivatives portfolio, according to an analysis of information published by The Wall Street Journal, researchers and traders. On December 31, 2020, the the Infinity Q Diversified Alpha Fund was closed to all new investment, including through dividend reinvestment. The SEC issued an order approving Infinity Q’s request to temporarily halt redemptions in the fund, which the firm plans to liquidate after determining the proper value for swap contracts that comprise about 18% of its assets. Wildcat also shares its name with the location of Bonderman’s home near Aspen, Colorado. The National Whistleblower Center (NWC) announced today that it received a significant grant from The David holds an undergraduate degree from the University of Washington and graduated from Harvard Law School, where he was a member of the Harvard Law Review and a Sheldon Fellow. Bonderman owns at least a 25% stake in Infinity Q. Infinity Q offered its products to retail investors – liquid alternative mutual funds. His lifetime of investing has made him a billionaire. Our “quantamental” approach combines the depth of private equity with the breadth of quantitative research to blend next generation forecasting models with rigorous fundamental analysis.”, Scott Lindell is the Chief Risk Officer of the firm. According to a New York Times report, Wildcat manages $1.79 billion for Bonderman, the founding partner of private equity firm TPG Capital, and his family. Investing in African wildlife: An interview with David Bonderman David Bonderman is one of the best known figures in private equity, having made his name by taking over undervalued companies and turning them around. In a strongly worded letter, Wildcat raised concerns over corporate governance at Sorrento Therapeutics and said the chief executive, Henry Ji, should be replaced. What have Joe Biden’s first 100 days meant for families? Photo credit: Rodger Schlickeisen. New York-based Infinity Q Capital Management, LLC was founded by James Velissaris in 2014. Are English Courts still the venue of choice for family offices? Morningstar gave Infinity Q Diversified Alpha Fund 4 stars, a service that some retail and institutional investors rely on for fund investments. “Infinity Q has independently verified that Mr. Velissaris did access and alter the third party’s valuation models but has not yet assessed the impact of those alterations,” the company said. Wildcat Capital Management was founded in 2011 by Len Potter with the purpose of managing capital for the founding partner of TPG Capital, David Bonderman. David Bonderman's Ranch (Google Maps). Wildcat Capital Management was established in 2011 by Len Potter and David Bonderman to principally manage the personal investments of David Bonderman, co-founding partner of TPG Capital. Infinity Q and the Fund are also determining whether the fair values calculated for positions other than the Swaps are reliable, and the extent of the impact on historical valuations. Wildcat Capital Management of Fort Worth led an $11 million Series C financing round as part of a $15 million raise for Sacramento, California-based NeuroVision Imaging Inc., which has an eye-screening test to pinpoint Alzheimer’s disease. Bonderman has bee… His family office, Wildcat Capital Management, is backing Spring Fertility, a … Find Drew's email address, mobile number, work history, and more. Transactions over company shares should be halted where possible, according to Wildcat, which also said an investment banker should be engaged to sell the company. Bonderman is a … On the previous website of Infinity Q, it read, “Infinity Q Capital Management is a pioneering investment advisor managed by David Bonderman’s family office. The round was led by David Bonderman's Wildcat Capital Management with The Kraft Group, owners of the New England Patriots and Marc Lasry, co-owner of the Milwaukee Bucks, participating in the round. He’s now selling hedge fund strategies to the masses. All Rights Reserved. Private Company David Bonderman is betting he can help people struggling to have a baby. The Wildcat Foundation accepts grant applications by invitation only. Velissaris was abruptly out kicked of his fund. There is evidence Velissaris adjusted models used to price swap contracts held by the Infinity Q Diversified Alpha Fund, likely resulting in incorrect valuations being reported to investors, according to a company statement on Monday. Prior to Wildcat, James managed the quantitative investment strategies and conducted analysis on portfolio construction and asset allocation for Arden Asset Management. James Velissaris got his chops at Wildcat Capital Management, LLC, a family office for David Bonderman that was formed in 2011. “However, after being rebuffed and seeing the continuing actions of Dr Ji and the board, particularly with respect to the recently announced financing and the recent revelation of the option and warrant grants at the subsidiary level, we felt it was necessary to take this step immediately in order to protect and maximise shareholder value,” said Potter. The share price at Sorrento has dropped by three-quarters since July, and is at about half the value at which Wildcat bought 2.5 million shares, or 6.5% of the company, in May last year. The Diversified Alpha Fund’s institutional shares have gained almost 1% year-to-date, performance that ranked below almost 90% of its peers, according to data compiled by Bloomberg. Wildcat Capital Management, the family office of TPG Capital co-founder David Bonderman, invested in car wash businesses Moo Moo Express and Flying Ace … Velissaris is a former Harvard University football player. - local newsletter of Liverpool SolFed: Winter 2012 edition; Communications blockade: Tell Ryanair's billionaire chairman to stop exploiting cabin crew! The … “David Bonderman is a passive investor in a family investment vehicle which, in turn, made a $2 million non-control investment in Infinity Q Capital Management, and made passive investments in Infinity Q’s funds,” a spokesman for Wildcat said in an emailed statement. Infinity Q uses volatility strategies to manage mutual funds, hedge funds and separately managed accounts. Infinity Q and the Fund immediately began the effort to value these Swap positions accurately to enable the Fund to calculate an NAV, which effort includes the retention of an independent valuation expert. Potter is the president and chief investment officer at Wildcat Capital Management, TPG founding partner David Bonderman’s $3 billion family office, his LinkedIn profile shows. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. GOODBYE: TPG Capital Cub Running Quantamental Investment Firm Fudges NAV Numbers. We'll deliver the most current and interesting sovereign wealth and financial news straight to your inbox. The Infinity Q Diversified Alpha Fund’s institutional shares have gained around 0.96% year-to-date, performance that ranked below most of its peers. Key among Wildcat’s complaints is way Sorrento is said to have moved assets to new subsidiaries and issued shares back to executives and directors through options and warrants for super-voting stock. CampdenFB.com is a wholly owned subsidiary of Campden Wealth Schlickeisen left Defenders in 2011 to embark on a second career in conservation as head of the Wildcat Foundation, the philanthropy funded by U.S. investor and businessman David Bonderman. Wildcat Capital Management, the New York-based family office of private equity house TPG founder David Bonderman, has backed the fertility industry by investing in California-based Spring Fertility. The SEC order reads, “Infinity Q Diversified Alpha Fund (the “Fund”), a Series of Trust for Advised Portfolios (the “Trust”), and Infinity Q Capital Management LLC (“Infinity Q”), hereby submit this application (the “Application”) for an order of the Securities and Exchange Commission (the “Commission”) pursuant to Section 22(e) of the Investment Company Act of 1940 (the “1940 Act”), to suspend the right of redemption with respect to shares of the Fund. “Mr. Read more about Wildcat!

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