Former Sequoia Investor Jeff Wang Launches New Hedge Fund

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Jeff Wang, a former investor at Sequoia Capital, has launched a new hedge fund called Augnition Global Investors. The new firm is set to be a long-short equity investor that will also invest in private companies. Wang's new fund was a major topic of discussion at Morgan Stanley's annual investor conference at The Breakers resort in Palm Beach, Florida, where attendees expect the fund to raise at least $1 billion.

Why it matters

Wang's track record at Sequoia, where he led the global equities business and generated an average annual return of over 17% for more than a decade, has generated significant buzz around his new venture. His connections to the influential "Tiger Cub" network of hedge funds tied to Julian Robertson's Tiger Management also add to the anticipation surrounding Augnition Global Investors.

The details

At Augnition Global Investors, Wang has partnered with Alan Lo, a longtime partner and director of operations for New York-based SRS Investment Management, who will serve as Wang's number two. The new firm is prioritizing investors who want to be long-term partners as it prepares to start trading later this year, and Wang and Lo are putting a considerable amount of their own net worth into the fund.

• Augnition Global Investors is expected to launch and begin trading later this year.
• Morgan Stanley's annual investor conference at The Breakers resort in Palm Beach, where Augnition Global Investors was a major topic of discussion, was held last week.

What’s next

Augnition Global Investors is expected to launch and begin trading later this year.