Tiger Management Renews at 101 Park Avenue
By Gus Delaporte July 10, 2013 11:00 amreprints
Tiger Management has signed a long-term lease renewal for 79,200 square feet at 101 Park Avenue. The company will continue to occupy the entire 33rd, 47th and 48th floors.
“As an original tenant, Tiger has grown from a small investment firm into a world renowned hedge fund,” said Peter Kalikow, developer and owner of 101 Park Avenue, in a prepared statement. “We are proud that they join a long list of tenants who have called 101 Park Avenue home from the property’s inception.”
Tiger, a hedge fund founded by Julian Robertson, closed to outside investors in 2000. Since that time, Mr. Robertson has largely invested in funds managed by others, some of them former Tiger employees. Many of these fund managers, known as “tiger cubs,” base their operations out of 101 Park Avenue.
As reported earlier this month by The Commercial Observer, Tiger Global Management, managed by “tiger cub” Chase Coleman, is relocating from 101 Park Avenue to Sheldon Solow’s 9 West 57th Street.
Founded with an initial $25 million investment from Mr. Robertson, Mr. Coleman’s fund now boasts over $6 billion in assets under management. Mr. Coleman, who was 25 at the time of Mr. Robertson’s investment, was recently included on The New York Observer’s 25th Anniversary “Next 25” List.
John Cefaly, executive vice chairman, Gus Field, vice chairman, Clark Finney, senior director, and David McBride, senior director, of Cushman & Wakefield represented Kalikow Properties, the landlord. Martin Horner, Barbara Winter and Reid Longley of Jones Lang LaSalle represented the tenant.
Jones Lang LaSalle declined to comment. C&W did not return requests for comment.