Hoplite Capital’s John Theodore Lykouretzos and Joella Marie Foster got married in 2001. They bought a three bedroom 2.5-bath condo at 345 W. 13th St. in West Village from Susan Hayes and Paul Sagawa for $3.875 Million in December 2005. Unfortunately this purchase at the top of the real estate market wasn’t very profitable for Lykouretzos. He sold the condo 3.5 years later for only $3 Million. His loss from this investment was more than 20% in 3.5 years.
This wasn’t a bad investment though. John and Joella have two kids and they needed a bigger place for their family. A three bedroom apartment for a family of four is actually very modest for a successful hedge fund manager. So, they probably purchased a much larger (and expensive) place, upgrading their apartment at the trough of the real estate market in New York City. They will probably make a bundle from the second purchase.
John T. Lykouretzos launched Hoplite Capital Management in 2003 after working for five years at Andreas Halvorsen’s Viking Global Investors. Lykouretzos’ expertise is in industrials and financial services. Before joining Viking, Lykouretzos worked at Julian Robertson’s Tiger Management Corporation as an industrials analyst for two years. After graduating from Yale in 1995, he was at Goldman Sachs as a financial analyst for three years.