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November 02, 2016  

Sequoia Alum Launching TPG-Backed Fund

Former Sequoia Capital Global Equities executive Vikram Arora has teamed up with private equity giant TPG Capital to launch an equity hedge fund.

Arora, who left Sequoia in June, set up Arrow Ridge Capital as a San Francisco unit of TPG, which will provide the planned fund with investment capital and operational support. Arora is aiming to launch by yearend.

TPG, owned by David Bonderman and James Coulter, also runs a $1.4 billion hedge fund called TPG Public Equity Partners, which the Fort Worth, Texas, firm launched in 2013 with $100 million from TPG and an undisclosed partner. Led by Alex Gleser, the TPG hedge fund had produced a cumulative return of 34.2% from inception through the first quarter of this year.

Arrow Ridge plans to take long and short positions in publicly traded stocks of companies of all sizes and industry sectors around the world. However, it will also have the ability to trade options, stock index futures, warrants, swap agreements, commodities and foreign currency.

Arora had been a partner in Sequoia Capital Global Equities, the stock-trading arm of venture capital behemoth Sequoia Capital. He worked there for five years, and before that did a brief stint in 2010 at hedge fund operator Coatue Management. Arora worked as an associate at TPG from 2007 to 2009.