Hedge Fund - Bridger Management

Roberto Mignone established Bridger Management in the year 2000. He pursued his MBA at the Harvard University Graduate School of Business Administration after receiving a Bachelor of Arts in Classics from Harvard College. Before starting his own investment company, Mignone was one of the founding partners of Blue Ridge Capital in 1996, together with John Griffin. Blake Goodner, a junior analyst in healthcare, chose to help Mignone after he left Blue Ridge Capital to launch his hedge fund. This could be a contributing element as to why the fund decided to invest approximately 35% of the money in its portfolio in the healthcare industry, second only to the financial sector, which accounted for 49% of the portfolio's value. Even further back, Mignone had worked for Julian Robertson's Tiger Management, earning the prestigious title of "tiger cub".

He charges a 1.5 percent management fee and 20 percent incentive fee. He believes fund size is a drag on the performance of a long/short fund manager, so he has no desire to run a much bigger fund than what he is currently running. Roberto Mignone’s Bridger Management keeps their returns extremely secret. They do extensive analysis and follow a long/short strategy. Katherine Burton profiled Roberto Mignone in her book “Hedge Hunters”. She explains Mignone’s strategy as follow:

Mignone’s core positions include roughly thirty long positions, which are each limited to 5 percent of the portfolio initially and never get larger than 10 percent. He has about sixty core short positions, each no bigger than 2 percent at the start. He never allows them to grow bigger than 4 percent. Overall, the gross exposure is 150 to 200 percent, meaning the value of the long and short positions adds up to 1.5 to 2 times the net assets in the fund. The net exposure is between 20 and 60 percent.”