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Komfie Manalo, Opalesque Asia:

Patrick McCormack is shutting down his hedge fund Tiger Consumer Management after 15 years "to spend more time with his family," reported Reuters. Tiger Consumer ended February up 4.6% (+3.9% YTD) and assets roughly $1.4bn, reported Reuters.

McCormack told his investors in a letter, "Managing a fundamentally driven, long/short equity hedge fund is rewarding but demanding work. I have decided after nearly 15 years of doing so, at this stage of my life, I would like to spend more time with my family."

He said that he is shutting down the fund at the end of this month and added that making the decision was hard but insisted now is the time to make the announcement as the fund is showing strong returns this year.

McCormack is a protégé of industry pioneer Julian Robertson. He began his career at Robertson’s Tiger Management and was a "member" of the so-called Tiger Cubs who received seed money from Robertson in 2000 to start their own funds.

Don Steinbrugge, an industry consultant at Agecroft Partners, commented on McCormack’s decision, "He obviously made a lot of money over the years. What is surprising is how long he did it."

In this Opalesque.TV interview, legendary Julian Robertson discussed how he selects his Tiger Cubs:......................

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