Lone Pine Capital
Lone Pine Capital is an American-based hedge fund and investment advisor headquartered in Greenwich, Connecticut. The firm has offices in London, New York City, and San Francisco.
History
Lone Pine Capital was established in 1997 by its president and portfolio manager, Stephen Mandel. The firm was named after a pine tree on the Dartmouth College campus that survived a lightning strike in 1887.Mandel previously worked for Julian Robertson at the firm Tiger Management, making Lone Pine one of the 30 or more so-called "Tiger Cubs", funds founded by managers who started their investment careers with Tiger Management. Mandel led the firm until January 2019, when he stepped back from day-to-day activity into a mentorship role with less investment oversight.
As of October 2025, Lone Pine Capital reported $19 billion under management.
Investment strategy
Lone Pine Capital's investment vehicles include the Lone Cypress hedge fund, its flagship fund, and its long-only Lone Cascade strategy. As of 2024, the Cascade strategy held a majority of the firm's assets.Between 2021 and 2023, the firm shifted its focus to investments in publicly traded companies, but resumed private investments in April 2024 when it acquired a minority stake in Canva and Spotnana Technology.
In 2025, Lone Pine launched its Lone Mountain Pine fund, which invests in companies "capable of consistent long-term compounding" and with positions held for five years or longer. Lone Pine committed $500 million of its own capital towards the fund and will begin accepting external investors in January 2026.