(Bloomberg) Lone Pine Capital is facing its biggest challenge since Steve Mandel founded the firm a quarter-century ago, with its $5.8 billion hedge fund down the most in its history. The hedge and long-only funds are both mired in a prolonged slump, each losing more than 30% this year through July on bullish growth-stock wagers that soured. Assets have tumbled 42% to $16.7 billion, driven by the wrong-way bets and client redemptions.
Lone Pine Assets Shrivel as Hedge Fund Reels From Record Losses
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