Eric W. Mandelblatt, together with Gaurav Kapadia and Scott Friendman, founded New York based Soroban Capital in 2010 with $130 million in AUM. Fueled by the strong returns generated during the first three years of its existence, the activist hedge fund's AUM jumped above $11 billion by 2017.
In 1998, Mandelblatt joined Goldman Sachs, right after graduating from the University of Florida with a BS in Accounting and a Certificate of Completion of a BA in Finance. At Goldman Sachs, he worked as an equity research analyst in the Investment Research Department, where he covered natural gas pipeline and distribution companies and Master Limited Partnerships. In 2002, Mandelblatt became an analyst/investor at Goldman Sachs Principal Strategies Group and two years later was promoted to Chief Operating Officer of the US Principal Strategies business. In 2005, Mandelblatt left Goldman Sachs to co-found a hedge fund, TPG-Axon Management, with Dinakar Singh.
In January 2010, TPG-Axon merged with London-based Montrica Investment Management, but several months earlier, Mandelblatt left his fund to create Soroban Capital Partners. In October, Mandelblatt launched Soroban together with Gaurav Kapadia, who had also been a partner at TPG-Axon, and Scott Friedman, TPG-Axon’s head trader. In addition, Mandelblatt hired Vito Tanzi, former Kalix Advisors CFO, who is currently a partner at Soroban, as well as its CFO and COO. The fund also employs, Steve Thomas, the former Head of Business Development and Investor Relations of Highbridge Capital Management, who is a partner and Head of Investor Relations. All partners where at the fund from the beginning and invested their own money in the fund.
The fund makes long and short investments in a variety of securities, including stocks, equity and sector indices, commodities, credit, and currencies. It focuses on companies with a catalyst for a change in earnings/cash flow or valuation and industries and transformation.
The main reason to follow Soroban Capital Partners is that its picks on average outperform the market. For example, in the first six months of 2017, the fund’s long positions in companies worth over $1.0 billion posted a weighted average return of 13.9%, according to our calculations. This return beat the S&P 500 by more than five percentage points. Over the 12-month period between June 2016 and 2017, Soroban’s picks returned over 43%. We follow Soroban alongside more than 600 other funds and offer our readers the possibility to follow these funds closely and receive alerts whenever they disclose updates to their portfolios via 13D and 13G filings with the Securities and Exchange Commission. To receive these real-time alerts, you should create a free account on Insider Monkey and add Soroban (or any other fund in our database) to your follow list.